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A1212 • 2026

Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.

Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.

Budget
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Schnall, Alexander
Last action
2026-05-04
Official status
Reported and Referred to Assembly Appropriations Committee
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.

Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.

What This Bill Does

  • Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.
  • Topic: Appropriations Fiscal note: This bill has been certified by OLS for a fiscal note.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-05-04 New Jersey Legislature

    Reported and Referred to Assembly Appropriations Committee

  2. 2026-01-13 New Jersey Legislature

    Introduced, Referred to Assembly Higher Education Committee

Official Summary Text

Modifies matching grant criteria for New Jersey Better Educational Savings Trust accounts.
Topic:
Appropriations
Fiscal note:
This bill has been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text 
A1212 TR

ASSEMBLY, No. 1212

STATE OF NEW JERSEY

222nd LEGISLATURE

�

Sponsored by:

Assemblyman ALEXANDER "AVI" SCHNALL

District 30 (Monmouth and Ocean)

Assemblyman� CRAIG J. COUGHLIN

District 19 (Middlesex)

Assemblywoman� CARMEN THERESA MORALES

District 34 (Essex)

SYNOPSIS

���� Modifies matching grant criteria for New Jersey
Better Educational Savings Trust accounts.

CURRENT VERSION OF TEXT

���� As reported by the Assembly Higher Education
Committee with technical review.

��

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
]

one or more grants
in a dollar-for-dollar match of
[
the initial
deposit
]

all initial deposits
to the account
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.��� This act shall take
effect immediately.