Bill > S4028

This bill expands eligibility for the State gross income tax credit for child and dependent care expenses and increases the amount of the credit. It removes the previous $150,000 income limit and instead provides different credit percentages based on the taxpayer's New Jersey taxable income, with higher percentages for lower-income taxpayers. The bill also allows married individuals filing separately to claim the credit, provided they meet the income eligibility criteria for single filers. The bill applies to taxable years beginning on and after the date of enactment.