# New Jersey S1042: Provides gross income tax exclusion for distributions from individual retirement accounts to qualified charitable organizations.

New Jersey S1042, Provides gross income tax exclusion for distributions from individual retirement accounts to qualified charitable organizations., is a 221st Legislature (2026-2027) Senate bill sponsored by Jon M. Bramnick (Republican), Troy Singleton (Democratic); status in committee, last action 2026-01-13 (Introduced, 1st Reading in Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee) (as of 2026-11-04).

- Canonical: https://policyrisk.com/state-bill/NJ-S1042-2026-2027
- As of: 2026-11-04
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: New Jersey S1042
- State: New Jersey
- Session: 221st Legislature (2026-2027)
- Title: Provides gross income tax exclusion for distributions from individual retirement accounts to qualified charitable organizations.
- Status: in committee
- Chamber: Senate
- Introduced: 2026-01-13
- Last action: 2026-01-13, Introduced, 1st Reading in Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
- Sponsors: Jon M. Bramnick (Republican), Troy Singleton (Democratic)
- Cosponsors: 1
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

No summary available.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Jon M. Bramnick (Republican), Senate
- Sponsor: Troy Singleton (Democratic), Senate
- Cosponsor: Patrick J. Diegnan Jr. (Democratic), Senate

## Actions (1)

- 2026-01-13: Introduced, 1st Reading in Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (Senate)

## Bill text

- As Introduced, 2026-10-23: [HTML](https://pub.njleg.state.nj.us/Bills/2026/S1500/1042_I1.HTM), [PDF](https://pub.njleg.state.nj.us/Bills/2026/S1500/1042_I1.PDF)

## Related bills

- S1395: Allows certain limited liability companies to terminate alternate names before end of five-year registration period. (signed)
- S4413: Establishes School-based Partnerships for Access and Resilience for Kids program in DCF; requires school districts to develop mental health support and partner… (signed)
- S4515: Authorizes dual employment by certain employees of Rutgers University and affiliated contracting entities.* (signed)
- S4420: Authorizes regional rehabilitation and reentry center authority to determine county proportional share assessment for budget purposes. (signed)
- S2962: Provides seniority service credit to educational support professionals for military service. (signed)
- S3939: Permits dual-use solar energy projects to participate in community solar program.* (signed)

## Sources
- [As Introduced (HTML)](https://pub.njleg.state.nj.us/Bills/2026/S1500/1042_I1.HTM)
- [As Introduced (PDF)](https://pub.njleg.state.nj.us/Bills/2026/S1500/1042_I1.PDF)

## Related
- [S1395: Allows certain limited liability companies to terminate alternate names before…](https://policyrisk.com/state-bill/NJ-S1395-2026-2027)
- [S4413: Establishes School-based Partnerships for Access and Resilience for Kids progra…](https://policyrisk.com/state-bill/NJ-S4413-2026-2027)
- [S4515: Authorizes dual employment by certain employees of Rutgers University and affil…](https://policyrisk.com/state-bill/NJ-S4515-2026-2027)
- [S4420: Authorizes regional rehabilitation and reentry center authority to determine co…](https://policyrisk.com/state-bill/NJ-S4420-2026-2027)
- [S2962: Provides seniority service credit to educational support professionals for mili…](https://policyrisk.com/state-bill/NJ-S2962-2026-2027)
- [S3939: Permits dual-use solar energy projects to participate in community solar progra…](https://policyrisk.com/state-bill/NJ-S3939-2026-2027)
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Source: PRIA, https://policyrisk.com/state-bill/NJ-S1042-2026-2027 (as of 2026-11-04).