New Jersey legislation · 2026-2027 Regular Session
New Jersey A1212: NJ Better Educational Savings Trust accounts-modifies matching grant criteria
Status: In committee, May 4, 2026
Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.
What the bill says
An Act concerning New Jersey Better Educational Savings Trust accounts and amending P.L.2021, c.128.
From the introduced text, January 13, 2026:
An Act concerning New Jersey Better Educational Savings Trust accounts and amending P.L.2021, c.128. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Section 2 of P.L.2021, c.128 (C.18A:71B-42.1) is amended to read as follows: 2. a. A NJBEST account when it is initially opened by a taxpayer with gross income of $75,000 or less shall be eligible for [a one-time grant of up to $750] [ADDED: one or more grants] in a dollar-for-dollar match of [the initial deposit] [ADDED: all initial deposits] to the account [ADDED: up to a total of $750] . b. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B -1 et seq.), to the contrary, the authority may adopt, immediately upon filing with the Office of Administrative Law, rules that the authority deems necessary for the appropriate administration and implementation of the provisions of this section, including, a minimum length of time for participation in the NJBEST program in order to maintain eligibility for the credit established pursuant to this section, which rules shall be effective for a period not to exceed 360 days from the date of the filing. The authority shall thereafter amend, adopt, or readopt the rules in accordance with the requirements of P.L.1968, c.410 (C.52:14B-1 et seq.). (cf: P.L.2021, c.128, s.2) 2. …
Sponsors
- Alexander Schnall (D, 30) · primary sponsor
- Craig J. Coughlin (D, 19) · primary sponsor
- Carmen Theresa Morales (D, 34) · primary sponsor
Latest actions
- : REP REF AAP
- : INT 1RA REF AHI
Votes
- Assembly Higher Education Committee: Reported favorably (May 4, 2026): 6 yea, 0 nay, passed
Subjects: EDUCATION - FINANCE
Common questions
- What is A1212?
- A1212 is a bill in the New Jersey Legislature (2026-2027 Regular Session): NJ Better Educational Savings Trust accounts-modifies matching grant criteria.
- What does A1212 do?
- In its own words: An Act concerning New Jersey Better Educational Savings Trust accounts and amending P.L.2021, c.128.
- What is the status of A1212?
- In committee as of May 4, 2026. Latest action: REP REF AAP (May 4, 2026).
- Who sponsored A1212?
- Alexander Schnall (D, 30), with 2 co-sponsors.
- Where is the official record for A1212?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A1212
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.