A5322Introduced in the General Assembly
Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.
Introduced by Anthony Verrelli, District 15
What does this bill do?
Plain-English breakdown
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Official description
Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.
Where it stands
Approved P.L.2026, c.21.
June 30, 2026
How did lawmakers vote?
General Assembly votes
2 recorded votes · each counted separately
Senate votes
2 recorded votes · each counted separately
SenateStage: Senate Floor: Third Reading - Final Passage · June 30, 2026
25
Yes
15
No
0
Absent or Not Voting
40 senators recorded in this Senate vote. Colors show vote categories only, not whether a vote was good or bad.
See how each senator voted
| Senator | District | Vote |
|---|---|---|
| Michael Testa | 1 | No |
| Vincent Polistina | 2 | No |
| John Burzichelli | 3 | Yes |
| Paul Moriarty | 4 | Yes |
| Nilsa Cruz-Perez | 5 | Yes |
| James Beach | 6 | Yes |
| Troy Singleton | 7 | Yes |
| Latham Tiver | 8 | No |
| Carmen Amato | 9 | No |
| James Holzapfel | 10 | No |
Bill history
Introduced, Referred to Assembly Budget Committee
Reported out of Assembly Comm. with Amendments, 2nd Reading
Passed by the Assembly (47-22-0)
Received in the Senate without Reference, 2nd Reading
Substituted for S4536 (1R)
Passed Senate (Passed Both Houses) (25-15)
Approved P.L.2026, c.21.
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