NJ S1798

Creates the Public Education Innovation Fund within the Department of Education to award competitive grants to low-performing public schools for implementing educational innovation programs that address barriers to academic achievement.

Defines low-performing schools as those where over 40% of students scored in the two lowest categories on both language arts and math state assessments, or over 65% scored in the lowest categories on either subject, for two consecutive years.

Provides corporation business tax credits for businesses making qualified donations to the fund, capped at 75% of the business's tax liability for the privilege period.

Provides gross income tax credits for business entities making qualified donations, capped at $10,000 per taxable year.

Limits total tax credits issued under both provisions to $5,000,000 aggregate per state fiscal year, awarded on a first-come, first-served basis.