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NJ A2369
Bill
Status
1/9/2024
Primary Sponsor
William Spearman
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AI Summary
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Establishes pre-employment and work readiness training programs through partnerships between businesses and educational institutions or nonprofits, targeting low- and moderate-income households and workers needing skills development for in-demand jobs in labor demand occupations
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Requires training programs to provide at least 12 weeks of paid training at minimum wage, covering basic literacy, communication, critical thinking, leadership, life skills, and job readiness skills; trainees must be at least 16 years old
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Provides a 100% tax credit to businesses for financial assistance contributed to approved training programs, applicable against corporate business tax or gross income tax
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Caps total tax credits at $2 million per fiscal year starting in FY2025, with unused applications rolled over to the following year in order received
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Appropriates $1 million to the Department of Labor and Workforce Development for implementation; excludes construction trade businesses from participation
Legislative Description
"New Jersey Works Act"; concerns businesses and pre-employment training programs; provides tax credit to businesses supporting pre-employment training programs; appropriates $1 million.
2nd Reading in the Assembly
Last Action
Reported out of Assembly Comm. with Amendments, 2nd Reading
6/24/2024