Revises gross income tax credit for child and dependent care expenses by expanding income eligibility and increasing credit.

This bill expands New Jersey's tax credit for child and dependent care expenses. It raises the income limit from $60,000 to $150,000 for residents to qualify, directly affecting middle-income families who pay for childcare or dependent care and claim the federal credit. The bill also increases the maximum credit amount to $1,000 for one dependent and $2,000 for multiple dependents (up from $500/$1,000), while expanding income brackets that qualify for higher credit percentages (e.g., keeping the 50% credit level up to $50,000 instead of $20,000). These changes aim to make the credit more accessible to a broader range of New Jersey taxpayers.