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A 5329

New Jersey AssemblySubstituted

Summary

A 5329, which increases amount of child tax credit in taxable years 2026, 2027, and 2028, was introduced in the Assembly on Jun 23, 2026 by Asm. Verlina Reynolds-Jackson (D) with 12 co-sponsors. It last saw action on Jun 30, 2026: Substituted by S4531.


Record

Text

A 5329 has 12 co-sponsors and 1 roll call.

a5329/introduced.txt
ASSEMBLY, No. 5329
STATE OF NEW JERSEY
222nd LEGISLATURE
INTRODUCED JUNE 23, 2026
Sponsored by:
Assemblywoman� VERLINA REYNOLDS-JACKSON
District 15 (Hunterdon and Mercer)
Assemblywoman� ELIANA PINTOR MARIN
District 29 (Essex and Hudson)
Assemblywoman� MARISA SWEENEY
District 25 (Morris and Passaic)
Assemblywoman� MAUREEN ROWAN
District 2 (Atlantic)
Assemblywoman� MARGIE DONLON, M.D.
District 11 (Monmouth)
Assemblyman� MICHAEL VENEZIA
District 34 (Essex)
SYNOPSIS
���� Increases amount of child tax credit in taxable years
2026, 2027, and 2028.
CURRENT VERSION OF TEXT
���� As introduced.
��
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.

Sponsors

Asm. Verlina Reynolds-Jackson (D) sponsors A 5329, and 12 members have co-sponsored it.

Committees

A 5329 went before 1 committee: Budget.

Budget
Budget
Referred to · Jun 23, 2026 · 5 Bills

History

A 5329 has taken 3 actions since Jun 23, 2026, the latest on Jun 30, 2026.

ChamberAction
Jun 30, 2026
Assembly
Substituted by S4531
Jun 28, 2026
Assembly
Reported out of Assembly Committee, 2nd Reading
Jun 23, 2026
Assembly
Introduced, Referred to Assembly Budget Committee

Votes

A 5329 went to 1 roll call in the Assembly, the latest on Jun 28, 2026 at 150.

ChamberQuestion
Yea
Nay
Jun 28, 2026
Assembly
Assembly Budget Committee: Reported Favorably
15
0

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