A5491

Establishes a tax credit program for manufacturing employers training apprentices in machine and metal trades.

The bill establishes a manufacturing machine and metal trade apprenticeship tax credit program in New Jersey. It provides a tax credit to employers for wages paid to qualified apprentices. The credit is equal to 50% of the wages, up to a maximum of $7,500 per apprentice per year. To qualify, apprentices must be employed for at least 1,500 hours in a training program that lasts up to four years. The program aims to encourage employers to train more skilled workers in machine and metal trades. The credits are nonrefundable and apply to tax periods beginning on or after January 1, 2027.