Establishes tax credit for portion of qualifying educational expenditures made by taxpayer on behalf of child.

This bill creates a 25% tax credit for New Jersey taxpayers covering qualifying educational expenses for dependent children under 18. It applies to tuition, required school supplies (like notebooks and calculators), instructional materials (textbooks), annual school fees, transportation to nonpublic schools (paid directly to the school), extracurricular activity fees, music equipment rentals, and school field trip fees. The credit is capped at $500 per child per year and excludes tutoring, yearbooks, class rings, regular clothing, and college entrance exam fees. It specifically targets expenses paid for children attending nonpublic schools that meet state attendance and civil rights requirements.