This bill amends N.J.S.54A:3-1 to extend the gross income tax exemption currently available to veterans to their spouses following the veteran's death. Specifically, it allows the spouse of a deceased veteran to claim a $6,000 exemption from gross income beginning in the taxable year after the veteran's death and continuing until the spouse remarries. This provision is contingent upon the veteran having been eligible for the exemption in the year of their death.

The current law permits veterans to claim this exemption, but it does not extend this benefit to their spouses in subsequent years after the veteran's death. The bill aims to provide financial relief to the surviving spouses of veterans by allowing them to maintain this tax exemption, thereby recognizing their sacrifices and supporting their financial stability. The act is set to take effect immediately and will apply to taxable years starting January 1 following its enactment.