New Jersey 222nd Legislature Status: Introduced 2 D cosponsors

A 5322 — Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.

Last action — APP

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed General Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the General Assembly. Introduced June 23, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 32% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 3 sponsors

    3 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill sets a temporary $1 million limit on net operating loss deductions for corporate taxes.

This legislation temporarily caps net operating loss deductions at $1 million under the corporation business tax for specific periods. It aims to adjust tax liabilities for corporations during these times.

Summary

Corporation business tax-impose temp $1M cap, operating loss deduct, cert period

Bill Text

What changed in the latest version

9 added · 16 removed

Plain-language change summary

The amendment specifies that the amount of a net operating loss deduction claimed by taxpayers, excluding public utilities, cannot exceed $1,000,000 for privilege periods ending between July 31, 2026, and July 31, 2030. Additionally, if a taxpayer has a privilege period shorter than twelve months, the deduction limit will be prorated based on the number of months in that period. This change establishes a temporary cap on net operating loss deductions under the corporation business tax for certain privilege periods.

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Latest
2026, c.021 (A5322 1R) §1 C.54:10A-4.3a §2 Note   P.L.
2026, c.021 (A5322 1R) CHAPTER 21   An Act imposing a temporary $1 million cap on the use of net operating loss deductions under the corporation business tax and supplementing P.L.1945, c.162 (C.54:10A-1 et seq.).
2026, CHAPTER 21, approved June 30, 2026 Assembly, No.
5322 (First Reprint)     An Act imposing a temporary $1 million cap on the use of net operating loss deductions under the corporation business tax and supplementing P.L.1945, c.162 (C.54:10A-1 et seq.).
        1.   a.
  C.54:10A-4.3a  Net operating loss deduction not to exceed $1 million for privilege period.
      1.   a.
     b.    Notwithstanding the provisions of paragraph (6) of subsection (k) or subsections (u) and (v) of section 4 of P.L.1945, c.162 (C.54:10A-4), section 18 of P.L.2018, c.48 (C.54:10A-4.6), or any other law to the contrary, for the purposes of computing taxable net income, as that term is defined in subsection (w) of section 4 of P.L.1945, c.162 (C.54:10A-4), the amount of any net operating loss deduction claimed by a taxpayer1, except for a public utility,1 shall not, in the aggregate, exceed $1,000,000 for a privilege period ending on or after July 31, 2026 but before July 31, 2030.  For a taxpayer with a privilege period of less than twelve months, the limit set forth in this subsection shall be prorated by the number of months covered during the privilege period.
     b.    Notwithstanding the provisions of paragraph (6) of subsection (k) or subsections (u) and (v) of section 4 of P.L.1945, c.162 (C.54:10A-4), section 18 of P.L.2018, c.48 (C.54:10A-4.6), or any other law to the contrary, for the purposes of computing taxable net income, as that term is defined in subsection (w) of section 4 of P.L.1945, c.162 (C.54:10A-4), the amount of any net operating loss deduction claimed by a taxpayer, except for a public utility, shall not, in the aggregate, exceed $1,000,000 for a privilege period ending on or after July 31, 2026 but before July 31, 2030.  For a taxpayer with a privilege period of less than twelve months, the limit set forth in this subsection shall be prorated by the number of months covered during the privilege period.
                                            Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.
       Approved June 30, 2026.
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Action History

  1. APP

  2. PS PBH

  3. SUB FOR

  4. R/S SWR 2RS

  5. PA

  6. REP/ACA 2RA

  7. INT 1RA REF ABU

Sponsors

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 117 not signed on · 19 voted No

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (117)

117 members have not signed on to this bill.

Show all 117 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Committee vote — ABU

Passed 11 Yea · 4 Nay
Party YeaNayPresentNot Voting
Democrat 11000
Republican 0400
Total 11400
% of votes cast 73%27%0%0%
How each member voted (15)
Member Party Vote
Abdelaziz, Al Democrat Yea
Freiman, Roy Democrat Yea
Murphy, Carol A. Democrat Yea
Park, Ellen J. Democrat Yea
Pintor Marin, Eliana Democrat Yea
Reynolds-Jackson, Verlina Democrat Yea
Rodriguez, Gabriel Democrat Yea
Schaer, Gary S. Democrat Yea
Schnall, Alexander Democrat Yea
Spearman, William W. Democrat Yea
Venezia, Michael Democrat Yea
Barlas, Al Republican Nay
Inganamort, Michael Republican Nay
Rumpf, Brian E. Republican Nay
Scharfenberger, Gerry Republican Nay

Official roll call →

Floor vote

Passed 25 Yea · 15 Nay
Party YeaNayPresentNot Voting
Republican 01500
Democrat 25000
Total 251500
% of votes cast 63%38%0%0%
How each member voted (40)
Member Party Vote
Beach, James Democrat Yea
Burgess, Renee C. Democrat Yea
Burzichelli, John J. Democrat Yea
Cruz-Perez, Nilsa I. Democrat Yea
Cryan, Joseph P. Democrat Yea
Diegnan Jr., Patrick J. Democrat Yea
Gopal, Vin Democrat Yea
Greenstein, Linda R. Democrat Yea
Johnson, Gordon M. Democrat Yea
Lagana, Joseph A. Democrat Yea
McKeon, John F. Democrat Yea
McKnight, Angela V. Democrat Yea
Moriarty, Paul D. Democrat Yea
Mukherji, Raj Democrat Yea
Ruiz, M. Teresa Democrat Yea
Sarlo, Paul A. Democrat Yea
Scutari, Nicholas P. Democrat Yea
Singleton, Troy Democrat Yea
Smith, Bob Democrat Yea
Stack, Brian P. Democrat Yea
Timberlake, Britnee N. Democrat Yea
Turner, Shirley K. Democrat Yea
Vitale, Joseph F. Democrat Yea
Wimberly, Benjie E. Democrat Yea
Zwicker, Andrew Democrat Yea
Amato Jr., Carmen F. Republican Nay
Bramnick, Jon M. Republican Nay
Bucco, Anthony M. Republican Nay
Corrado, Kristin M. Republican Nay
Henry, Owen Republican Nay
Holzapfel, James W. Republican Nay
O'Scanlon Jr., Declan J. Republican Nay
Pennacchio, Joseph Republican Nay
Polistina, Vincent J. Republican Nay
Schepisi, Holly T. Republican Nay
Singer, Robert W. Republican Nay
Space, Parker Republican Nay
Steinhardt, Douglas J. Republican Nay
Testa Jr., Michael L. Republican Nay
Tiver, Latham Republican Nay

Official roll call →

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does A 5322 do?
Corporation business tax-impose temp $1M cap, operating loss deduct, cert period
Who sponsors A 5322?
A 5322 is sponsored by Scutari, Nicholas P., Brennan, Katie (Democrat), and Verrelli, Anthony S. (Democrat).
What is the current status of A 5322?
This bill has been introduced in the General Assembly. Introduced June 23, 2026. It must pass committee before a floor vote.
Where can I track A 5322?
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