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 New Jersey bill would create a tax credit for parents or guardians homeschooling children or dependents, allowing them to deduct up to $2,500 per child in qualified education expenses from their state income tax, with a maximum annual credit of $7,500. Taxpayers homeschooling a child with special needs would receive an additional $1,000 per child, raising the maximum annual credit to $10,500. Qualified expenses include textbooks, educational software, school supplies, internet fees, and materials like computers or desks used for homeschooling. The credit applies to taxpayers with gross income under $260,000 and requires filing an application if no tax is owed.