Bill > A126

This bill establishes a manufacturing machine and metal trade apprenticeship tax credit program under the gross income tax and corporation business tax in New Jersey. The purpose of the program is to encourage manufacturing employers to provide structured training to machine and metal trade apprentices in order to add more skilled workers to the state's labor market. The bill provides manufacturing employers with qualified machine and metal trade apprenticeship programs a tax credit of up to $7,500 per apprentice, or 50% of the apprentice's wages, whichever is less. To qualify, the apprenticeship must employ an unskilled or semi-skilled person in machine tool or metal trades for at least 1,500 hours in the tax year as part of a training program not exceeding four years, involving wage progression, defined job training processes, course instruction, and completion resulting in designation as a skilled worker. The credits are nonrefundable and can be applied against the corporation business tax or the gross income tax, with the order of priority prescribed by the director.

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