Budget & Taxes (Children)

This bill expands New Jersey's child tax credit to include children aged six through 11, in addition to the current eligibility for children under six. It directly affects resident taxpayers with taxable income of $80,000 or less who have children in this age range. The key provision amends existing state tax law to allow a credit of up to $1,000 per child, with the amount decreasing as family income rises above $30,000, and applies to tax years beginning on or after January 1, 2026.