Increases benefit amount under New Jersey Earned Income Tax Credit program from 40 percent to 60 percent of federal benefit amount.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill increases the amount of the New Jersey Earned Income Tax Credit (EITC) program. Specifically, it raises the percentage of the federal EITC benefit that New Jersey residents can receive from 40% to 60%. This change will take effect for tax years beginning in 2022. The EITC program is designed to provide tax relief to low- and moderate-income workers and families, and is linked to the federal EITC program.
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