Provides gross income tax exclusion for capital gains from sale of certain employer securities by qualified businesses that result in net positive benefit to State.

This bill provides a tax break by excluding capital gains from gross income tax for small New Jersey businesses (fewer than 500 employees, not publicly traded) that sell employer securities to employee ownership structures. To qualify, businesses must sell to an employee stock ownership plan (ESOP), a New Jersey S corporation owned by an ESOP, or an eligible worker cooperative, with the new owner holding at least 30% of the business. Before the sale, businesses must get certification from the New Jersey Economic Development Authority (NJEDA) proving the transaction will retain full-time jobs in the state and generate a net economic benefit to New Jersey. The exclusion applies only to sales that meet these conditions, aiming to encourage employee ownership without requiring employees to invest their own money.