This bill introduces a gross income tax deduction for educators and paraprofessionals in New Jersey, allowing full-time employees to deduct $500 from their gross income and part-time employees to deduct $350. The bill specifies that a full-time employee must work a minimum of 25 hours per week and be employed for 12 months per year, except for those whose standard work schedule is 10 months, aligning with the school year.

Additionally, the bill defines "eligible educator" as a teacher working in various educational institutions within the state, including school districts and charter schools, while "paraprofessional" refers to individuals assisting teachers as school or classroom aides. The act is set to take effect immediately and will apply to taxable years starting on or after January 1 following its enactment.