Bill > S1204

This bill, known as the "New Jersey Battlefield to Boardroom Act," establishes tax credits for businesses that hire qualified veterans, defined as New Jersey residents honorably discharged from the U.S. Armed Forces after January 1, 1965, who are initially hired after the bill's enactment. For both the Corporation Business Tax and the Gross Income Tax, businesses can receive a credit of 10% of the "qualified wages" (wages subject to New Jersey Gross Income Tax) paid to a qualified veteran employed for at least 185 business days, with a maximum credit of $1,200 per veteran annually. To qualify, businesses must ensure that 25% of their new hires are qualified veterans, retain 50% of previously hired qualified veterans, provide veteran support services, actively recruit veterans and their families, support veteran organizations, and comply with and exceed the federal Uniformed Services Employment and Reemployment Rights Act. The total value of tax credits approved under this act and a related section will be capped at $10 million per fiscal year. The credits are subject to limitations on reducing tax liability and can be carried forward for seven years, with provisions for recapture and penalties if the director determines a business is displacing existing employees solely to obtain these credits. The act takes effect immediately.

Budget and Finance, Military Affairs and Security

https://www.njleg.state.nj.us/bill-search/2026/S1204