Read the full stored bill text
S1204 1R
[First Reprint]
SENATE, No. 1204
STATE OF NEW JERSEY
222nd LEGISLATURE
�
PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION
Sponsored by:
Senator LINDA R. GREENSTEIN
District 14 (Mercer and Middlesex)
Senator TROY SINGLETON
District 7 (Burlington)
Co-Sponsored by:
Senators Beach and Cruz-Perez
SYNOPSIS
����
�New Jersey
Battlefield to Boardroom Act�; provides corporation business tax credits and
gross income tax credits for qualified wages of certain veterans.
CURRENT VERSION OF TEXT
���� As reported by the Senate Military and Veterans'
Affairs Committee on February 19, 2026, with amendments.
��
An Act
establishing a corporation business tax credit and
gross income tax credit for qualified wages of certain veterans, supplementing
P.L.1945, c.162 (C.54:10A-1 et seq.) and Title 54A of the New Jersey Statutes.
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
����� 1.�� This
act shall be known and may be cited as
1
the
1
�
1
[
The
]
1
New Jersey Battlefield to Boardroom Act.�
����� 2.�� a.�������� (1)������� For
privilege periods
1
[
commencing on or after January 1, 2020 but before
January 1, 2024
]
beginning after December 31 following the date
of enactment of P.L.�� , c.�� (C.�� ) (pending before the Legislature as this
bill) and ending before January 1 of the fifth year next following the date of
enactment
1
, a taxpayer shall be allowed a credit against the
tax imposed pursuant to section 5 of P.L.1945, c.162 (C.54:10A-5), in an amount
equal to the value of
1
[
ten
]
10
1
percent of qualified wages paid in the privilege period to a qualified
veteran in the course of sustained employment.� For each privilege period, a
taxpayer�s credit allowed pursuant to this section shall not exceed $1,200 for
each qualified veteran.
����� (2)� For
a taxpayer to qualify for the credit allowed pursuant to this section for a
privilege period, the taxpayer shall comply with the requirements of this
paragraph.
����� Twenty-five
percent of the taxpayer�s new employees for the privilege period for which
credit is claimed shall be qualified veterans.
����� If
the taxpayer received the credit allowed pursuant to this section for the
privilege period immediately preceding the privilege period for which credit is
claimed, then 50 percent of the qualified veterans hired in the immediately
preceding privilege period shall remain employed by the taxpayer for the
privilege period for which credit is claimed.
����� The
taxpayer shall provide veteran support services that are accessible in the
workplace, which services may, but not necessarily, be procured through a
private veteran support services service provider.
����� The
taxpayer shall regularly conduct specific recruitment efforts to hire qualified
veterans and their nuclear family members.
����� The
taxpayer shall provide support to outreach efforts of veteran support
organizations.
����� The
taxpayer shall comply with the federal Uniformed Services Employment and
Reemployment Rights Act (38 U.S.C. s.4301 et seq.) and provide additional
privileges in excess of the rights protected by the federal Uniformed Services
Employment and Reemployment Rights Act.
����� b.�� (1)������� The
order of priority of the application of the credit allowed pursuant to this
section and any other credits allowed against the tax imposed pursuant to
section 5 of P.L.1945, c.162 (C.54:10A-5) for a privilege period shall be as
prescribed by the director.�
����� The
amount of the credit applied pursuant to this section, added together with any
other credit allowed against the tax imposed pursuant to section 5 of P.L.1945,
c.162 (C.54:10A-5), shall not exceed
1
[
50%
]
50 percent
1
of the tax liability otherwise due and shall not
reduce the tax liability to an amount less than the statutory minimum provided
in subsection (e) of section 5 of P.L.1945, c.162.
����� Unused
credit resulting from the limitations of this paragraph may be carried forward,
if necessary, for use in the seven privilege periods following the privilege
period for which the credit is allowed.
����� (2)� A
taxpayer shall not be granted a credit pursuant to this section for the
qualified wages paid to a qualified veteran in a privilege period if the
qualified wages of the qualified veteran or the job providing qualified wages
to the qualified veteran is included in the calculation of another credit
against any State tax or a grant pursuant to P.L.1996, c.26 (C.34:1B-124 et
seq.) for a period of time that coincides with the applicable privilege
period.�
����� (3)� If
the director determines that a taxpayer is displacing employees and replacing
the employees with qualified veterans for the primary purposes of obtaining the
credit allowed pursuant to this section, the director shall deny the credit
allowed under this section for the taxpayer and shall issue a tax assessment
for the recapture of credit previously allowed to the taxpayer under this
section plus an assessment of
1
[
50%
]
50 percent
1
of any credit subject to recapture as penalty.�
�����
1
(4)� The total value of tax credits approved by the
director pursuant to this section and section 3 of P.L.��� , c.���� (C.�������
) (pending before the Legislature as this bill) shall not exceed $10,000,000
during any fiscal year.
1
����� c.�� As
used in this section:
����� �Sustained
employment� means a period of time no less than 185 business days during the
privilege period in which a qualified veteran is earning qualified wages.
����� �Qualified
veteran� means a resident of this State initially hired by the taxpayer on or
after
1
[
January 1, 2010
]
the date of enactment of P.L.�� , c.�� (C.�� ) (pending before the
Legislature as this bill)
1
that has been honorably discharged or released
under honorable circumstances from active service, occurring on or after
January 1, 1965, in any branch of the Armed Forces of the United States
, and who has shown proof of military service by providing a copy of
the DD-214 form, its equivalent, or federal activation orders showing service
under Title 10, section 672 or section 12301, of the United States Code.
����� �Qualified
wages� mean any salaries, wages and remuneration subject to the �New Jersey
Gross Income Tax Act,� N.J.S.54A:1-1 et seq., paid to a qualified veteran on or
after
1
[
January 1, 2020 but before January 1, 2024
]
January 1 following the date of enactment of
P.L.�� , c.�� (C.�� ) (pending before the Legislature as this bill)
1
for
labor rendered in service to an enterprise of the taxpayer.
����� 3.�� a.�
(1)�� For taxable years commencing on or after
1
[
January 1, 2020 but before January 1, 2024
]
January 1 following the date of enactment of P.L.��
, c.�� (C.�� ) (pending before the Legislature as this bill), and for the next
four taxable years therafter
1
, a taxpayer shall be allowed a credit against the
tax due pursuant to the �New Jersey Gross Income Tax Act,� N.J.S.54A:1-1 et
seq., in an amount equal to the value of
1
[
ten
]
10
1
percent of qualified wages paid in the taxable year to a qualified
veteran in the course of sustained employment.� For each taxable year, a
taxpayer�s credit allowed pursuant to this section shall not exceed $1,200 for
each qualified veteran.
����� (2)� For
a taxpayer to qualify for the credit allowed pursuant to this section for a
taxable year, the taxpayer shall comply with the requirements of this
paragraph.
����� Twenty-five
percent of the taxpayer�s new employees for the taxable year for which credit
is claimed shall be qualified veterans.
����� If
the taxpayer received the credit allowed pursuant to this section for the
taxable year immediately preceding the taxable year for which credit is
claimed, then 50 percent of the qualified veterans hired in the immediately
preceding taxable year shall remain employed by the taxpayer for the taxable
year for which credit is claimed.
����� The
taxpayer shall provide veteran support services that are accessible in the
workplace, which services may, but not necessarily, be procured through a
private veteran support services service provider.
����� The
taxpayer shall regularly conduct specific recruitment efforts to hire qualified
veterans and their nuclear family members.
����� The
taxpayer shall provide support to outreach efforts of veteran support
organizations.
����� The
taxpayer shall comply with the federal Uniformed Services Employment and
Reemployment Rights Act (38 U.S.C. s.4301 et seq.) and provide additional
privileges in excess of the rights protected by the federal Uniformed Services
Employment and Reemployment Rights Act.�
����� b.�� (1)������� A
credit allowed pursuant to this section shall not reduce the tax liability
otherwise due pursuant to the �New Jersey Gross Income Tax Act,� N.J.S.54A:1-1
et seq., for a taxable year to less than zero.
����� Unused
credit resulting from the limitations of this paragraph may be carried forward
if necessary to the seven taxable years following the taxable year for which
the credit was allowed.� The form and method of carry forward shall be as
prescribed by the director.
����� (2)� A
taxpayer shall not be granted a credit pursuant to this section for the
qualified wages paid to a qualified veteran in a taxable year if the qualified
wages of the qualified veteran or the job providing qualified wages to the
qualified veteran is included in the calculation of another credit against any
State tax or a grant pursuant to P.L.1996, c.26 (C.34:1B-124 et seq.) for a
period of time that coincides with the applicable taxable year.�
����� (3)� If
the director determines that a taxpayer is displacing employees and replacing
the employees with qualified veterans for the primary purposes of obtaining the
credit allowed pursuant to this section, the director shall deny the credit
allowed under this section for the taxpayer and shall issue a tax assessment
for the recapture of credit previously allowed to the taxpayer under this
section plus an assessment of
1
[
50%
]
50 percent
1
of any credit subject to recapture as penalty.�
�����
1
(4)� The total value of tax credits approved by the
director pursuant to this section and section 2 of P.L.��� , c.���� (C.�������
) (pending before the Legislature as this bill) shall not exceed $10,000,000
during any fiscal year.
1
����� c.�� As
used in this section:
����� �Sustained
employment� means a period of time no less than 185 business days during the
privilege period in which a qualified veteran is earning qualified wages.
����� �Qualified
veteran� means a resident of this State initially hired by the taxpayer on or
after
1
[
January 1, 2010
]
the effective date of P.L. , c. (C. ) (pending before the Legislature at this bill)
1
that has been honorably discharged or released
under honorable circumstances from active service, occurring on or after
January 1, 1965, in any branch of the Armed Forces of the United States, and
who has shown proof of military service by providing a copy of the DD-214 form,
its equivalent, or federal activation orders showing service under Title 10,
section 672 or section 12301, of the United States Code.
����� �Qualified
wages� mean any salaries, wages and remuneration subject to the �New Jersey
Gross Income Tax Act,� N.J.S.54A:1-1et seq., paid to a qualified veteran on or
after
1
[
January 1, 2020 but before January 1, 2024
]
January 1 following the date of enactment of
P.L.�� , c.�� (C.�� ) (pending before the Legislature as this bill)
1
for labor rendered in service to an enterprise of
the taxpayer.
���� 4.��� This act shall take
effect immediately.