This bill amends New Jersey's gross income tax law to provide a $3,000 annual deduction for surviving spouses of qualifying veterans. The legislation defines a qualifying veteran as someone who has died while on active duty, was honorably discharged, or was released under honorable circumstances from active military service. The bill aims to extend the existing veterans' exemption, which currently allows a $6,000 deduction for veterans themselves, to their surviving spouses, thereby recognizing the sacrifices made by these families. However, the exemption will no longer be available if the surviving spouse remarries.

The bill also includes a technical amendment to the existing law, specifically adding a new subsection that outlines the eligibility criteria for the surviving spouse deduction. This change is intended to enhance the economic security of widows and widowers of veterans, acknowledging their unique challenges and contributions. The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment.