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

This bill creates a 25% tax credit for parents paying qualifying educational costs for children in private schools (nonpublic schools) in New Jersey. It covers expenses like tuition, required school supplies (e.g., notebooks, calculators), instructional materials (textbooks), annual fees, and field trip costs, with a maximum credit of $500 per child annually. The credit excludes tutoring services, yearbooks, class rings, everyday clothing, and standardized test fees (SAT/ACT). It applies to children under 18 who qualify for dependent deductions and requires payments to be made directly to the private school for transportation.