Bill Text: NJ A4029 | 2020-2021 | Regular Session | Introduced
Bill Title: Provides gross income tax credit to health care workers or first responders involved in COVID-19 response.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Introduced - Dead) 2020-05-04 - Introduced, Referred to Assembly Budget Committee [A4029 Detail]
Download: New_Jersey-2020-A4029-Introduced.html
Sponsored by:
Assemblyman CHRISTOPHER P. DEPHILLIPS
District 40 (Bergen, Essex, Morris and Passaic)
SYNOPSIS
Provides gross income tax credit to health care workers or first responders involved in COVID-19 response.
CURRENT VERSION OF TEXT
As introduced.
An Act providing a credit against the New Jersey gross income tax to health care workers or first responders involved in COVID-19 response, supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. A health care worker, including a medical student or volunteer, or first responder who was directly involved and assisted in the transportation or treatment of patients with COVID-19 shall be allowed a $1,000 credit against the tax otherwise due pursuant to the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq.
b. The amount of the credit allowed pursuant to this section shall be applied against the tax otherwise due under N.J.S.54A:1-1 et seq., after all other credits and payments. If the credit exceeds the amount of tax otherwise due, that amount of excess shall be an overpayment for the purposes of N.J.S.54A:9-7; provided however, that subsection (f) of N.J.S.54A:9-7 shall not apply.
c. In the case of married individuals filing jointly, each individual shall be permitted to claim the credit pursuant to this section in the taxable year if that individual is eligible for the credit.
d. The order of priority of the application of the credit allowed pursuant to this section, and any other credits allowed against the tax imposed pursuant to "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., for a taxable year shall be as prescribed by the director.
e. The director shall promulgate procedures and forms by which a taxpayer may certify that the taxpayer qualifies for the credit allowed pursuant to this section.
2. This act shall take effect immediately and apply to the taxable year beginning January 1, 2020 and ending December 31, 2020.
STATEMENT
This bill provides a gross income tax credit to health care workers, including medical students and volunteers, or first responders who were directly involved and assisted in the transportation or treatment of patients with COVID-19. The credit is $1,000 for the taxable year and can be claimed by both individuals in the case of married individuals filing a joint return. The credit is refundable, which means that if the credit exceeds the taxpayer's liability, that taxpayer will receive a refund for the amount in excess of that liability. The credit is only available for Tax Year 2020.
