New Jersey Statutes Title 18A. Education 18A § 71B-35

a. This State is committed to making world-class education accessible and affordable for all New Jersey students;

b. When families save for college education, they are making an important investment in the future for themselves and the young people of this State;

c. Incentives are needed to encourage families to save for college education;

d. The “Small Business Job Protection Act of 1996,” Pub.L.104-188, amended the federal Internal Revenue Code to provide for favorable tax treatment for qualified college savings programs and participants in the programs; and

e. In addition to favorable federal tax treatment for a college savings program and its participants, it is desirable to provide favorable State tax treatment, as a special incentive for student beneficiaries to attend college in this State.