Bill > S3214

This bill establishes the "New Jersey Earn and Learn Program" to incentivize employers to offer structured apprenticeships and paid internships that lead to permanent employment by providing tax credits. An apprenticeship is defined as a registered program with the U.S. Department of Labor offering combined classroom and on-the-job training, while an internship is a paid, structured learning experience with supervised practical training. The program, administered by the Department of Labor and Workforce Development in consultation with other state agencies, will inform employers about the tax credit and is limited to a three-year duration per individual participant. Employers can apply for tax credits against either the corporation business tax or the gross income tax, with specific credit amounts varying based on factors like the number of employees, whether the enrollee is from an underrepresented group, and if the enrollee successfully transitions to full-time employment after completing the program. Notably, businesses in the building and construction trades, defined by specific industry classifications, are excluded from receiving these tax credits. The program is set to begin on January 1, 2027, and the Commissioner of Labor and Workforce Development will report annually on its effectiveness.