Establishes New Jersey Child Tax Credit program to benefit certain low-income households.

This bill establishes New Jersey's Child Tax Credit program, providing refundable tax credits to low-income residents with children. It directly benefits households with taxable income up to 250% of the federal poverty level, offering $582 per younger child (under age 6) and $187 per older child (ages 6-24) for families at or below 100% poverty level, with credits phasing out gradually as income rises. Key provisions include allowing claims using either Social Security numbers or Individual Taxpayer Identification Numbers (ITINs), ensuring credits don't reduce eligibility for state benefits, and requiring annual reporting on credit usage. The bill is currently pending in the Assembly committee and has not yet become law.