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S 4531

New Jersey SenatePassed

Summary

S 4531, which increases amount of child tax credit in taxable years 2026, 2027, and 2028, was introduced in the Senate on Jun 26, 2026 by Sen. Teresa Ruiz (D) with 20 co-sponsors. It last saw action on Jun 30, 2026: Approved P.L.2026, c.26.


Record

Text

S 4531 has 20 co-sponsors and 4 roll calls.

s4531/enrolled.txt
�2
Note
P.L.
2026, CHAPTER 26, approved June 30, 2026
Senate, No. 4531
An Act increasing the amount of the child tax credit in
certain taxable years and amending P.L.2022, c.24.
���� Be It Enacted by the Senate and General Assembly of the State of New
Jersey:
���� 1.��� Section 1 of P.L.2022, c.24 (C.54A:4-17.1) is
amended to read as follows:
���� 1. a. A resident taxpayer with New Jersey taxable
income of $80,000 or less shall be allowed a credit against the tax otherwise
due pursuant to the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1
et seq. for each child who has not attained the age of six years as of the
close of the taxable year and for which the taxpayer is allowed a deduction
under N.J.S.54A:3-1.
���� [The] Except in
taxable years 2026, 2027, and 2028, the credit shall be in the following
amounts:
����������� If the taxable income is:������������������������������� The
credit is:
����������� $30,000 or under������������������������������������������� $1,000
����������� over $30,000 but not over $40,000�������������� $800
����������� over $40,000 but not over $50,000�������������� $600
����������� over $50,000 but not over $60,000�������������� $400
����������� over $60,000 but not over $80,000�������������� $200
���� In taxable years 2026, 2027, and 2028, the credit
shall be in the following amounts:
����������� If the taxable income is:������������������������������� The
credit is:
����������� $30,000 or under������������������������������������������� $1,250
����������� over $30,000 but not over $40,000�������������� $1,000
����������� over $40,000 but not over $50,000�������������� $750
����������� over $50,000 but not over $60,000�������������� $500
����������� over $60,000 but not over $80,000�������������� $250
���� The income limit set forth in this section shall apply
to taxpayers of any filing status.
���� b.��� A taxpayer shall be allowed the credit pursuant
to this section whether the taxpayer uses a Social Security number or an
Individual Taxpayer Identification Number on their tax forms.
���� c.���� If the amount of the credit allowed pursuant to
this section exceeds the amount of tax otherwise due pursuant to the "New
Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., after all other
credits and deductions, the amount of excess shall be treated as a refundable
overpayment.
���� d.��� To qualify for the credit allowed pursuant to
this section, a taxpayer shall file a joint return if the taxpayer is married,
except for a taxpayer who files as a head of household or surviving spouse for
federal income tax purposes for the taxable year.
���� e.���� In the case of a part-year resident, the amount
of the credit allowed pursuant to this section shall be pro-rated, based upon
that proportion which the total number of months of the taxpayer's residency in
the taxable year bears to 12 in that period.� For this purpose, 15 days or more
shall constitute a month.
���� f.���� Any tax credit pursuant to this section shall
not be taken into account as income for purposes of determining the eligibility
of an individual for benefits or assistance or the amount or extent of benefits
or assistance under any State program and, to the extent permitted by federal
law, under any State program financed in whole or in part with federal funds.
���� g.��� The Division of Taxation shall issue data as part
of the annual tax expenditure report, as required by section 1 of P.L.2009,
c.189 (C.52:27B-20a) to include the number of taxpayers claiming the New Jersey
Child Tax Credit, as well as claimants' income, the number of children
benefitting, and the average credit amount per child and per claimant
(cf: P.L.2023, c.72, s.1)
���� 2.��� This act shall take effect immediately and apply
to taxable years beginning on and after January 1, 2026.
STATEMENT
���� This bill increases the amount of the child tax credit
in taxable years 2026, 2027, and 2028.
���� Current law provides for a credit against the New
Jersey gross income tax to a resident taxpayer with income of $80,000 or less
for each child under age six.� The amount of the credit depends upon the
taxable income of a taxpayer.� Specifically, current law provides for a child
tax credit in the following amounts:
����������� If the taxable income is:������������������������������� The
credit is:
����������� $30,000 or under������������������������������������������� $1,000
����������� over $30,000 but not over $40,000�������������� $800
����������� over $40,000 but not over $50,000�������������� $600
����������� over $50,000 but not over $60,000�������������� $400
����������� over $60,000 but not over $80,000�������������� $200
���� Under the bill, the child tax credit amounts are
temporarily increased for taxable years 2026, 2027, and 2028, after which the
child tax credit amounts are to return to the amounts listed above.� Specifically,
the bill increases the child tax credit to the following amounts during taxable
years 2026, 2027, and 2028:
����������� If the taxable income is:������������������������������� The
credit is:
����������� $30,000 or under������������������������������������������� $1,250
����������� over $30,000 but not over $40,000�������������� $1,000
����������� over $40,000 but not over $50,000�������������� $750
����������� over $50,000 but not over $60,000�������������� $500
����������� over $60,000 but not over $80,000�������������� $250
���� Increases amount of child tax credit in taxable years
2026, 2027, and 2028.

Increases amount of child tax credit in taxable years 2026, 2027, and 2028.

Sponsors

Sen. Teresa Ruiz (D) sponsors S 4531, and 20 members have co-sponsored it.

Committees

S 4531 went before 1 committee: Budget and Appropriations.

Budget and Appropriations
Budget and Appropriations
Referred to · Jun 26, 2026

History

S 4531 has taken 7 actions since Jun 26, 2026, the latest on Jun 30, 2026.

ChamberAction
Jun 30, 2026
Senate
Passed by the Senate (39-1)
Jun 30, 2026
Assembly
Received in the Assembly without Reference, 2nd Reading
Jun 30, 2026
Assembly
Substituted for A5329
Jun 30, 2026
Assembly
Passed Assembly (Passed Both Houses) (79-0-0)
Jun 30, 2026
Assembly
Approved P.L.2026, c.26.

Votes

S 4531 went to 4 roll calls across both chambers, the latest on Jun 30, 2026 at 00.

ChamberQuestion
Yea
Nay
Jun 30, 2026
Assembly
Assembly Floor: Substitute for A5329 (Voice Vote)
0
0
Jun 30, 2026
Assembly
Assembly Floor: Third Reading - Final Passage
79
0
Jun 30, 2026
Senate
Senate Floor: Third Reading - Final Passage
39
1
Jun 28, 2026
Senate
Senate Budget and Appropriations Committee: Reported Favorably
13
0

Source: njleg.state.nj.us · legiscan.com