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 fund. Furthermore, the Legislature is required to annually appropriate all funds in the NJ SHARES Fund to New Jersey SHARES, Inc. for assisting households in need of temporary help with energy bills due to short-term financial crises.

The bill aims to support New Jersey households facing financial difficulties by providing a mechanism for taxpayers to contribute directly to a fund that assists those in need. NJ SHARES, Inc. serves individuals and families who are not eligible for welfare or other income-based energy assistance programs but have a history of good-faith utility bill payments. The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment.