This bill establishes the NJ SHARES Fund within the Department of the Treasury, allowing taxpayers to voluntarily contribute to the fund through their New Jersey gross income tax returns. Taxpayers can indicate a portion of their tax refund or make an enclosed contribution to be deposited in the NJ SHARES Fund. The bill also stipulates that any administrative costs incurred by the Division of Taxation for the collection of these contributions may be deducted from the receipts, with the net contributions being deposited into the NJ SHARES Fund. Furthermore, the Legislature is required to annually appropriate all funds in the NJ SHARES Fund to New Jersey SHARES, Inc. for assisting households facing temporary financial crises in paying their energy bills.

The bill aims to support New Jersey households in need by providing a mechanism for taxpayers to contribute directly to a fund that assists individuals and families who are experiencing short-term financial difficulties and are not eligible for other assistance programs. To qualify for help from NJ SHARES, recipients must demonstrate a history of good-faith payments on their utility bills and be facing a financial crisis. The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment.