Provides child tax credit for taxpayers with children ages six to 11 and increases amount of credit for taxpayers with children under 12 over period of two years.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill expands the New Jersey Child Tax Credit to include taxpayers with children ages six to eleven and increases the credit amount for taxpayers with children under twelve over a two-year period. The credit is phased out based on taxable income, with higher income levels receiving a smaller credit. The bill also clarifies eligibility requirements and reporting procedures related to the child tax credit program.
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