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Bill > A927

NJ A927

NJ A927
Expands child tax credit eligibility to resident taxpayers with children ages six to 11.

summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill would expand eligibility for the child tax credit to resident taxpayers with children ages six to 11. Under current law, a resident taxpayer with New Jersey taxable income of $80,000 or less is allowed a credit against the State income tax for each child under age six. The amount of the credit is $1,000 per child for taxpayers with incomes of $30,000 or less and is incrementally reduced as certain income thresholds above $30,000 are met. The credit is completely phased out once a taxpayer's income exceeds $80,000. Beginning in tax year 2023, the bill would expand eligibility for the child tax credit to resident taxpayers with children between ages six and 11 by specifying that the credit is available to taxpayers with children who have not attained the age of 12.

AI Summary

This bill would expand eligibility for the New Jersey child tax credit to resident taxpayers with children between the ages of 6 and 11 (up to age 12). Under current law, the credit is available to resident taxpayers with children under the age of 6 and with New Jersey taxable income of $80,000 or less. The credit amount ranges from $1,000 per child for those with incomes of $30,000 or less, down to $200 per child for those with incomes between $60,000 and $80,000. This bill would extend the eligibility for the credit to children up to age 12, starting in tax year 2023.

Committee Categories

Education

Sponsors (6)

Last Action

Introduced, Referred to Assembly Children, Families and Food Security Committee (on 01/09/2024)
(1 Companion Bills)

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Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2024/A927
BillText https://pub.njleg.gov/Bills/2024/A1000/927_I1.HTM
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