New Jersey legislation · 2026-2027 Regular Session
New Jersey S4667: Student loan matching contributions, cert-exclude from gross income tax
Status: In committee, October 5, 2026
Excludes from gross income tax certain student loan matching contributions made by employers to certain defined contribution plans.
What the bill says
An Act excluding from the gross income tax certain student loan matching contributions to defined contribution plans and supplementing chapter 6 of Title 54A of the New Jersey Statutes.
From the introduced text, September 28, 2026:
An Act excluding from the gross income tax certain student loan matching contributions to defined contribution plans and supplementing chapter 6 of Title 54A of the New Jersey Statutes. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. a. Gross income shall not include eligible student loan matching contributions made by an employer on behalf of, and at the election of, an employee to an eligible defined contribution plan. b. For purposes of this section: Eligible defined contribution plan means a retirement savings account qualified under subsection (b) of section 403 of the federal Internal Revenue Code, 26 U.S.C. s.403(b); subsection (p) of section 408 of the federal Internal Revenue Code, 26 U.S.C. s.408(p); or subsection (b) of section 457 of the federal Internal Revenue Code, 26 U.S.C. s.457(b). Eligible student loan matching contribution means a contribution made by an employer to the eligible defined contribution plan of an employee that makes a qualified student loan payment, which contribution is made based on all or part of the amount of the qualified student loan payment. Qualified student loan means a loan issued under the New Jersey College Loans to Assist State Students (NJCLASS) Loan Program established pursuant to N.J.S.18A:71C-21. Qualified student loan payment means a payment made by an employee in repayment of …
Sponsors
- Joseph P. Cryan (D, 20) · primary sponsor
- Jon M. Bramnick (R, 21) · primary sponsor
Latest actions
- : REF SBA
- : REP 2RS
- : INT 1RS REF SHI
Votes
- Senate Higher Education Committee: Reported favorably (October 5, 2026): 4 yea, 0 nay, passed
Subjects: TAXATION - PERSONAL INCOME TAX, EDUCATION - FINANCE
Common questions
- What is S4667?
- S4667 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Student loan matching contributions, cert-exclude from gross income tax.
- What does S4667 do?
- In its own words: An Act excluding from the gross income tax certain student loan matching contributions to defined contribution plans and supplementing chapter 6 of Title 54A of the New Jersey Statutes.
- What is the status of S4667?
- In committee as of October 5, 2026. Latest action: REF SBA (October 5, 2026).
- Who sponsored S4667?
- Joseph P. Cryan (D, 20), with 1 co-sponsor.
- Where is the official record for S4667?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/S4667
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.