Provides tax credits to small businesses to offset increases in unemployment insurance contributions.

This bill provides tax credits to New Jersey small businesses that pay higher unemployment insurance premiums than standard rates. Specifically, it allows eligible small businesses (meeting federal SBA size criteria) to claim a credit against their state income tax equal to the difference between their actual unemployment insurance payments and what they would have paid at standard "column C" rates. The credit applies for 2023, 2024, and subsequent years until unemployment insurance rates drop to or below standard levels. Businesses cannot claim credits if other subsidies already cover the same cost increase.