Permits tax credit against gross income tax for certain adoption expenses.

This bill creates a New Jersey state tax credit that reduces a taxpayer's gross income tax bill for eligible adoption expenses related to adopting a foster child. It directly affects New Jersey residents who adopt children placed in foster care through the Division of Youth and Family Services. The credit covers ongoing medical, therapeutic, or counseling costs (like prescriptions, therapy, or occupational services) for the child, and applies annually until the child turns 18 (or 21 with special education needs) or for life if the child has a severe disability certified by state disability directors. The credit is claimed against the state tax liability each year the adoption expenses are incurred.