Establishes a manufacturing reinvestment account program to incentivize capital investment and workforce training in New Jersey with income tax rate reductions, deferrals, and accelerated deductions.

This bill creates a tax incentive program for small New Jersey manufacturers with 50 or fewer employees. It allows eligible businesses to deduct up to $100,000 annually from their taxable income for deposits into a special "manufacturing reinvestment account" held at a New Jersey financial institution. Account earnings are deferred from taxation until withdrawn, and if funds are used for qualifying equipment purchases or New Jersey workforce training within five years, the business receives a 50% reduction on tax applied to those earnings. The program aims to directly encourage capital investment and job training at small manufacturing facilities across the state.