Provides corporation business tax and gross income tax credits for businesses that employ formerly incarcerated individuals.

This bill creates tax credits for New Jersey businesses that hire formerly incarcerated individuals. Businesses can claim a credit equal to 10% of qualified wages (up to $1,200 per person) for employees who are employed for at least 185 business days. To qualify, businesses must hire at least 25% formerly incarcerated individuals as new employees, maintain 50% of such employees from the previous year, and conduct targeted recruitment efforts. The bill also prohibits using the same wages for multiple tax credits and allows the tax authority to recapture credits plus a 50% penalty if businesses replace existing workers solely to claim the credit.