NJ A4129

Doubles the maximum New Jersey child tax credit from $1,000 to $2,000 per child for taxpayers with incomes of $30,000 or less.

Raises the age eligibility for qualifying children from under 6 years old to under 18 years old.

Increases the income eligibility limit from $80,000 to $150,000 in taxable income, with the credit phasing out gradually above $30,000.

Restructures the phase-out brackets so credit reductions occur every $20,000 of income rather than every $10,000, allowing taxpayers to claim higher credits longer.

Takes effect immediately and applies to taxable years beginning on or after January 1, 2026.