{"data":{"id":"us-nj/n.j.-stat.-18a-71b-42","jurisdiction":"us-nj","citation":"N.J. Stat. § 18A:71B-42","heading":"NJBEST scholarship; conditions.","body":"a. An amount of no less than $500 shall be provided by the State for the qualified higher education expenses of a designated beneficiary at the time of a qualified withdrawal provided that:\n(1)\tthe contributor demonstrates, to the satisfaction of the authority, that the contributor participated in the program for at least four years by making a qualifying minimum initial deposit or qualifying minimum annual contributions, or both, as shall be determined by the authority, for a designated beneficiary;\n(2)\tthe designated beneficiary demonstrates, to the satisfaction of the authority, attendance or enrollment in a higher education institution in this State; and\n(3)\teither the contributor, if an individual, or the designated beneficiary demonstrates, to the satisfaction of the authority, that the contributor or designated beneficiary is a New Jersey resident.\nb.\tThe amount provided under subsection a. of this section shall meet the requirements of a qualified scholarship within the meaning of section 117 of the federal Internal Revenue Code of 1986, 26 U.S.C.s.117, for a designated beneficiary satisfying the requirements of subsection a. of this section.\nc.\tA designated beneficiary shall not receive more than one State scholarship provided pursuant to subsection a. of this section.\namended 2020, c.81.","path":["TITLE 18A EDUCATION"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"d1bbeab887cbb63df6f0636b87db9618884f9678cb5e351e4023f922f51ad023","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-18a-71b-41.1","next":"us-nj/n.j.-stat.-18a-71b-42.1"},"notice":"GroundRules: Original legal text. Not legal advice."}