Sponsored by:
Senator JOSEPH F. VITALE
District 19 (Middlesex)
Senator DAWN MARIE ADDIEGO
District 8 (Atlantic, Burlington and Camden)
SYNOPSIS
Provides a gross income tax credit for birth resulting in stillbirth.
CURRENT VERSION OF TEXT
As reported by the Senate Health, Human Services and Senior Citizens Committee on January 9, 2017, with amendments.
An Act providing a gross income tax credit for a birth resulting in stillbirth, 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 taxpayer shall be allowed a credit against the tax otherwise due under the “New Jersey Gross Income Tax Act,” N.J.S.54A:1-1 et seq., in an amount equal to $2,000 for a birth during the taxable year for which a Certificate Of Birth Resulting In Stillbirth has been issued by the State Registrar pursuant to the provisions of 1[P.L.2003, c.312 (C.26:8-37)] R.S.26:8-371 if the stillborn child would have been a dependent of the taxpayer as defined by section 152 of the federal Internal Revenue Code (26 U.S.C. s.152).
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.
2. This act shall take effect immediately and apply to taxable years beginning on or after the January 1 next following enactment.