Establishes manufacturing machine and metal trade apprenticeship tax credit program.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes a tax credit program for manufacturers in New Jersey to encourage the training of apprentices in machine and metal trades. The credit is equal to one-half of the wages paid to a qualified apprentice, up to a maximum of $7,500 per apprentice per year. To qualify, apprentices must work at least 1,500 hours and participate in a structured training program. The credit is available under both the corporate business tax and the gross income tax.
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Sponsors
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2 on record
Primary sponsors
Michael Testa
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