Provides a STEM graduate retention tax credit for certain employers who pay certain employees' education loan debt.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates a tax credit for New Jersey employers who pay off the education loan debt of certain employees. Specifically, it targets STEM graduates who live and work in the state. Employers can receive a credit of up to $5,000 per qualified STEM employee per year, encouraging them to retain these graduates and contributing to the state’s STEM workforce.
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