This bill proposes a $250 gross income tax deduction for taxpayers who are active duty members of the Armed Forces of the United States for the entire taxable year. The intent of the bill is to recognize the service of military personnel and provide them with some financial relief by potentially lowering their New Jersey Gross Income Tax liability.

The legislation is set to take effect immediately upon enactment and will apply to taxable years starting on or after January 1 of the year following its enactment. This initiative aims to support the approximately 7,669 active duty military personnel in New Jersey, as reported by the U.S. Department of Defense Manpower Data Center.