Requires State to participate in federal tax credit scholarship program and directs Commissioner of Education to provide required information to U.S. Secretary of the Treasury.

This bill requires New Jersey to participate in a federal tax credit program that allows individuals to claim tax credits for contributions to scholarship-granting organizations. The legislation directs the Commissioner of Education to annually provide the U.S. Secretary of the Treasury with a list of qualifying scholarship organizations in the state. By participating, New Jersey residents would be able to receive federal tax credits for donations to these organizations, which fund scholarships for students from households with income below 300 percent of the area median. The bill takes effect immediately and aligns New Jersey with existing federal requirements for states that wish to enable these tax benefits.