This bill proposes a gross income tax deduction for teachers employed in kindergarten through grade 12 educational institutions in New Jersey. Specifically, it allows eligible teachers—those working for a board of education, a charter school, a renaissance school project, or a nonpublic school—to deduct 25 percent of their wages from their gross income for the taxable year. The bill defines the relevant terms, including "board of education," "charter school," "nonpublic school," and "renaissance school project," ensuring clarity on the types of institutions covered under this deduction.

The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 of the year following its enactment. This initiative aims to provide financial relief to teachers by recognizing their contributions to education and supporting their financial well-being through tax deductions.