---
type: "Bill"
title: "Allows deduction from tax of certain expenses when taxpayer's federal paycheck protection program loan is forgiven and excludes those forgiven loans from gross income tax."
description: "Allows deduction from tax of certain expenses when taxpayer's federal paycheck protection program loan is forgiven and excludes those forgiven loans from gross income tax."
jurisdiction: "us/states/nj"
legislature: "New Jersey Legislature"
session: "219"
identifier: "S 3234"
citation: "New Jersey S 3234 (219)"
classification: ["bill"]
subjects: ["BUS TAXES", "INCOME TAX", "TAXATION"]
status: "enacted"
primary_sponsors: ["Benson, Daniel R.", "Bucco, Anthony M.", "Greenwald, Louis D.", "Johnson, Gordon M.", "Sarlo, Paul A.", "Singleton, Troy"]
version_count: 2
action_count: 10
vote_count: 5
first_action: "2020-12-07T05:00:00+00:00"
last_action: "2021-05-11T04:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/71dd3169-03b9-4dc1-b40b-c92864645168"
source_url: "http://www.njleg.state.nj.us/downloads.asp"
source_hash: "b9936a692864a37c1c5c4522b561078ebc7145ada9b509e990a2b894cc8ef2f6"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-nj"]
---

# New Jersey S 3234 (219) — Allows deduction from tax of certain expenses when taxpayer's federal paycheck protection program loan is forgiven and excludes those forgiven loans from gross income tax.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced Version** (committee substitute) — [source](http://www.njleg.state.nj.us/2020/Bills/S3500/3234_I1.HTM)
2. **Reprint** (committee substitute) — [source](http://www.njleg.state.nj.us/2020/Bills/S3500/3234_R1.HTM)

## Votes

- Reported out of Senate committee with amendments — **12–0** (pass) · upper
- 3RDG FINAL PASSAGE — **66–0** (pass) · lower
- CONCUR ASMB AMEND — **37–0** (pass) · upper
- Reported out of Assembly committee with amendments — **10–0** (pass) · lower
- 3RDG FINAL PASSAGE — **33–0** (pass) · upper

## Sponsors

- Benson, Daniel R. — primary (person)
- Bucco, Anthony M. — primary (person)
- Greenwald, Louis D. — primary (person)
- Johnson, Gordon M. — primary (person)
- Sarlo, Paul A. — primary (person)
- Singleton, Troy — primary (person)
- Bergen, Brian — cosponsor (person)
- Dancer, Ronald S. — cosponsor (person)
- DiMaso, Serena — cosponsor (person)
- Greenstein, Linda R. — cosponsor (person)
- Holzapfel, James W. — cosponsor (person)
- Karabinchak, Robert J. — cosponsor (person)
- Murphy, Carol A. — cosponsor (person)
- O'Scanlon, Declan J. — cosponsor (person)
- Oroho, Steven V. — cosponsor (person)
- Pou, Nellie — cosponsor (person)
- Reynolds-Jackson, Verlina — cosponsor (person)
- Singleton, Troy — cosponsor (person)
- Stanley, Sterley S. — cosponsor (person)
- Thomson, Edward H. — cosponsor (person)
- Vainieri Huttle, Valerie — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2020-12-07T05:00:00+00:00** Introduced in the Senate, Referred to Senate Budget and Appropriations Committee `introduction, referral-committee`
- **2021-01-21T05:00:00+00:00** Reported out of Senate Committee with Amendments, 2nd Reading `committee-passage`
- **2021-01-28T05:00:00+00:00** Passed Senate (33-0) `passage`
- **2021-01-29T05:00:00+00:00** Received in the Assembly, Referred to Assembly Appropriations Committee `referral-committee`
- **2021-02-24T05:00:00+00:00** Reported out of Assembly Committee with Amendments, 2nd Reading `committee-passage`
- **2021-03-01T05:00:00+00:00** Substituted for A5149 (1R)
- **2021-03-01T05:00:00+00:00** Passed Assembly (66-0-2) `passage`
- **2021-03-04T05:00:00+00:00** Received in the Senate, 2nd Reading on Concurrence
- **2021-03-25T04:00:00+00:00** Passed Senate (Passed Both Houses) (37-0) `passage`
- **2021-05-11T04:00:00+00:00** Approved P.L.2021, c.90. `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/71dd3169-03b9-4dc1-b40b-c92864645168`. Confidence: reported (aggregated from official New Jersey legislature records).