Buono Bill Providing Income Tax Deduction For Contributions To College Savings Plan Clears Hurdle

TRENTON – The Senate Budget and Appropriations Committee yesterday released two bills sponsored by Majority Leader Barbara Buono (D-Middlesex) that would change state income tax laws to benefit families saving for their child’s education and veterans returning from war.

“Providing a tax break can be a powerful tool to help residents make a better future for themselves and their families,” said Buono. “We should be helping a family put their child through college and ensuring a returning veteran gets the help they need.”

TRENTON – Legislation sponsored by Senator Nellie Pou (D – Passaic and Bergen) that would require the screening of all…

TRENTON – Senator Barbara Buono (D-Middlesex) released the following statement regarding the Governor’s pocket veto of S-668 and S-3072. S-668 would have provided New Jersey residents who save for their children’s college education through a state-administered college savings plan with a state income tax deduction for their investments. S-3072 would have promoted the establishment of partnerships between institutions of higher education and the business community to increase collaborative research and innovation:

“In these tough economic times , when middle-class families are constantly worried about how they will put food on the table let alone how they will pay for their children’s education, it is indefensible that the Governor has vetoed legislation that would have provided incentives to parents to save for their children’s college education as well as legislation that would have strengthened educational opportunities for the state’s college students, so that they may gain invaluable skills to find good, well-paying jobs.

TRENTON – A measure sponsored by Senators Fred H. Madden and Steve Sweeney, which would provide workers’ compensation benefits to surviving spouses of police officers and firefighters who have died in the line of duty was approved today by the full Senate.

“When a public safety official gives his or her life in the line of duty, their loved ones are left behind to pick up the pieces,” said Senator Madden, D-Camden and Gloucester. “In situations like this, the families also become victims, because they are left with the unexpected responsibility of having to make ends meet. The benefits that would be afforded through this bill would allow spouses to move on financially – we owe this to them.”

“The goal of this bill is to allow the spouses of police officers and firefighters who have paid the ultimate price protecting our safety, to continue to receive the benefits to which they are entitled,” said Senator Sweeney, D-Gloucester, Cumberland and Salem. “I certainly don’t think it’s too much to ask, and we owe these benefits to these families.”

TRENTON – Legislation sponsored by Senator Nellie Pou (D – Passaic and Bergen) that would require the screening of all…

TRENTON – A measure sponsored by Senators Fred H. Madden and Steve Sweeney, which would provide workers’ compensation benefits to surviving spouses of police officers or firefighters who die in the line of duty was approved today by the Senate Labor Committee.

“When a person dies in the line of duty, he or she pays the ultimate price in an effort to protect the health and well-being of members of the public,” said Senator Madden, D-Camden and Gloucester. “This legislation is about helping to provide benefits for the other victims of these tragic events – the families who lose a loved one. These benefits allow spouses to move on financially – we owe this to them.”

“This bill is about helping to protect the people who are left behind after a police officer or firefighter is killed in the line of duty – the spouses,” said Senator Sweeney, D-Gloucester, Cumberland and Salem. “This legislation will allow the spouses of these slain police officers and firefighters the means to move on with their lives, all while receiving these benefits to which they are entitled.”