A 5508: Allows gross income tax deduction for certain losses for which federal theft loss deduction is allowed and authorizes penalty relief and installment payment agreements for certain victims of financial fraud.

Plain-language summary

A 5508 is a bill introduced in the New Jersey House on September 17, 2026. According to its official title, it concerns: Allows gross income tax deduction for certain losses for which federal theft loss deduction is allowed and authorizes penalty relief and installment payment agreements for certain victims of financial fraud. Primary sponsor: Clinton Calabrese (Democratic). Most recent recorded action (September 17, 2026): Introduced, Referred to Assembly Public Safety and Preparedness Committee.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written