NJ S2195

Creates a $1,000 annual tax credit against corporation business tax or gross income tax for each apprentice employed in a U.S. Department of Labor registered apprenticeship program for at least seven months.

Provides an additional $2,000 credit if the apprentice is a veteran, previously incarcerated, a displaced worker, or received Work First New Jersey or SNAP benefits within the prior 12 months.

Provides another $2,000 credit if the apprentice belongs to a group underrepresented in that career field based on race, color, religion, national origin, sex, sexual orientation, disability, or age, allowing a maximum credit of $5,000 per qualifying apprentice.

Limits the credit for any individual apprentice to a maximum of four taxable years of employment, with credit amounts adjusted annually based on the Statewide average weekly wage.

Prohibits apprenticeship programs using this credit from displacing current workers, replacing existing approved apprenticeship programs, or impairing collective bargaining agreements.