This bill establishes a gross income tax credit for volunteer first responders in New Jersey who incur child care expenses. The credit is set at 50 percent of the child care costs incurred during the taxable year, with a maximum limit of $5,000 per taxpayer. To qualify for this credit, volunteer first responders must have worked a minimum of 150 hours in their official capacities, which includes training hours. Additionally, taxpayers must provide documentation to substantiate their eligibility and the child care expenses when filing their tax returns.

The bill defines "child care expenses" to encompass various costs associated with child care services for dependents, including hiring caregivers, licensed child care facilities, and after-school programs. It also specifies that "volunteer first responder" includes volunteer firefighters and members of first aid, emergency, ambulance, or rescue squad associations. The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment.