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---
type: "Bill"
title: "Allows exemption from New Jersey gross income of certain capital gains from sale or exchange of qualified small business stock.**"
description: "Allows exemption from New Jersey gross income of certain capital gains from sale or exchange of qualified small business stock.**"
jurisdiction: "us/states/nj"
legislature: "New Jersey Legislature"
session: "221"
identifier: "A 4455"
citation: "New Jersey A 4455 (221)"
classification: ["bill"]
subjects: ["CORPORATIONS", "INCOME TAX"]
status: "enacted"
primary_sponsors: ["Freiman, Roy", "Karabinchak, Robert J.", "Mukherji, Raj", "Sarlo, Paul A.", "Schaer, Gary S."]
version_count: 5
action_count: 11
vote_count: 6
first_action: "2024-06-03T04:00:00+00:00"
last_action: "2025-06-30T04:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/b35a58d3-cd78-4cbf-9dbf-c5347bbfd602"
source_url: "https://pub.njleg.state.nj.us/leg-databases/"
source_hash: "60644f469b7a120d07d4eb788106fc2ac4a7d016a45fd3fd9b143fec6052afd1"
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 A 4455 (221) — Allows exemption from New Jersey gross income of certain capital gains from sale or exchange of qualified small business stock.**
## Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
1. **Assembly Committee Substitute AAP 6/19/25 ACS** (committee substitute) — [source](https://pub.njleg.state.nj.us/Bills/2024/A4500/4455_U1.HTM)
2. **Introduced Version** (committee substitute) — [source](https://pub.njleg.state.nj.us/Bills/2024/A4500/4455_I1.HTM)
3. **Reprint ACE 3/6/25 1R** (committee substitute) — [source](https://pub.njleg.state.nj.us/Bills/2024/A4500/4455_R1.HTM)
4. **Reprint ASL 3/20/25 2R** (committee substitute) — [source](https://pub.njleg.state.nj.us/Bills/2024/A4500/4455_R2.HTM)
5. **Reprint of Substitute ABU 6/26/25 1R ACS** (committee substitute) — [source](https://pub.njleg.state.nj.us/Bills/2024/A4500/4455_R1a.HTM)
## Votes
- 3RDG FINAL PASSAGE — **390** (pass) · upper
- 3RDG FINAL PASSAGE — **800** (pass) · lower
- Reported out of Assembly committee as a substitute — **100** (pass) · lower
- Reported out of Assembly committee with amendments — **150** (pass) · lower
- Reported out of Assembly committee with amendments — **70** (pass) · lower
- Reported out of Assembly committee with amendments — **110** (pass) · lower
## Sponsors
- Freiman, Roy — primary (person)
- Karabinchak, Robert J. — primary (person)
- Mukherji, Raj — primary (person)
- Sarlo, Paul A. — primary (person)
- Schaer, Gary S. — primary (person)
- Atkins, Reginald W. — cosponsor (person)
- Calabrese, Clinton — cosponsor (person)
- Drulis, Mitchelle — cosponsor (person)
- Egan, Kevin P. — cosponsor (person)
- Haider, Shama A. — cosponsor (person)
- Hutchison, Dan — cosponsor (person)
- Miller, Cody D. — cosponsor (person)
- Park, Ellen J. — cosponsor (person)
- Reynolds-Jackson, Verlina — cosponsor (person)
- Space, Parker — cosponsor (person)
- Spearman, William W. — cosponsor (person)
- Swain, Lisa — cosponsor (person)
- Tully, Chris — cosponsor (person)
## Timeline
The legislative action history — every referral, reading, and vote.
- **2024-06-03T04:00:00+00:00** Introduced in the Assembly, Referred to Assembly Commerce, Economic Development and Agriculture Committee `introduction, referral-committee`
- **2025-03-06T05:00:00+00:00** Reported out of Assembly Committee with Amendments and Referred to Assembly State and Local Government Committee `referral-committee`
- **2025-03-20T04:00:00+00:00** Reported out of Assembly Committee with Amendments and Referred to Assembly Appropriations Committee `referral-committee`
- **2025-06-19T04:00:00+00:00** Reported from Assembly Committee as a Substitute, 2nd Reading
- **2025-06-26T04:00:00+00:00** Recommitted to Assembly Budget Committee `referral-committee`
- **2025-06-26T04:00:00+00:00** Reported out of Assembly Committee with Amendments, 2nd Reading `committee-passage`
- **2025-06-30T04:00:00+00:00** Passed Assembly (80-0-0) `passage`
- **2025-06-30T04:00:00+00:00** Received in the Senate without Reference, 2nd Reading
- **2025-06-30T04:00:00+00:00** Substituted for S4503 (SCS)
- **2025-06-30T04:00:00+00:00** Passed Senate (Passed Both Houses) (39-0) `passage`
- **2025-06-30T04:00:00+00:00** Approved P.L.2025, c.67. `executive-signature`
## Source
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b35a58d3-cd78-4cbf-9dbf-c5347bbfd602`. Confidence: reported (aggregated from official New Jersey legislature records).