Provides gross income tax credit for certain homeschooling expenses incurred by parent or guardian with increased credit for taxpayers homeschooling child or dependent with special needs.

This bill provides a non-refundable New Jersey gross income tax credit for eligible homeschooling expenses incurred by parents or guardians. Taxpayers with gross income under $260,000 can claim up to $2,500 per child or dependent for qualified expenses (like textbooks, educational software, school supplies, and internet fees), with a total annual cap of $7,500. An additional $1,000 credit is available per child with special needs, raising the total annual cap to $10,500. The credit applies to expenses for children or dependents and includes specific provisions for married couples filing separately.