Increases the amount of the child tax credit in taxable years 2026, 2027, and 2028.
The bill increases the amount of the child tax credit for taxable years 2026, 2027, and 2028. The credit amounts vary based on the taxpayer's income, with higher credits for lower incomes. After 2028, the credit amounts revert to previous levels. The Division of Taxation will report data on the number of claimants, income levels, number of children benefiting, and average credit amounts per child and per claimant.
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