This bill proposes amendments to the grading of theft offenses in New Jersey by increasing the monetary thresholds that determine the severity of the crime. Specifically, the threshold for a second-degree theft crime is raised from $75,000 to $100,001 or more, while the threshold for a third-degree crime is increased from $500 to $2,501, with a maximum of $100,000. Additionally, the threshold for a fourth-degree crime is adjusted from $200 to a range of $1,001 to $2,500, and the threshold for a disorderly persons offense is raised from less than $200 to less than $1,000.

The bill outlines the penalties associated with these offenses, with a second-degree crime carrying a potential sentence of five to ten years in prison and fines up to $150,000, while a third-degree crime may result in three to five years of imprisonment and fines up to $15,000. Fourth-degree crimes can lead to up to 18 months of imprisonment and fines up to $10,000, and disorderly persons offenses are punishable by up to six months in jail and fines up to $1,000. The changes are set to take effect on January 1 following the date of enactment.