Provides tax credits to companies contributing to loan and loan redemption program for residents who attend institutions of higher education in State and work at such company upon graduation.
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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 the New Jersey Talent Retention Loan and Loan Redemption Program to encourage college graduates to stay in New Jersey. It provides tax credits to companies that contribute to a loan fund, which then offers loans to eligible students attending New Jersey institutions. Students who receive these loans and work for contributing companies may have a portion of their student loans forgiven. The program aims to retain skilled workers within the state.
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