Increases the amount of the child tax credit in New Jersey for taxable years 2026, 2027, and 2028.
The bill increases the amount of the child tax credit in New Jersey for taxable years 2026, 2027, and 2028. The credit is available to resident taxpayers with income of $80,000 or less for each child under age six. The credit amount varies based on the taxpayer's income, with higher credits for lower incomes. After 2028, the credit amounts revert to the original levels. The bill also specifies that the credit is not considered income for eligibility in state benefits programs.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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