This bill proposes a gross income tax deduction for teachers employed in kindergarten through grade 12 educational institutions in New Jersey. Specifically, it allows a deduction equal to 25 percent of the wages paid to teachers by various educational entities, including boards of education, charter schools, renaissance school projects, and nonpublic schools. The bill aims to provide financial relief to educators by reducing their taxable income based on their earnings.

The legislation defines key terms such as "board of education," "charter school," "nonpublic school," and "renaissance school project" to clarify the scope of the 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 underscores the state's commitment to supporting teachers and enhancing the educational workforce.