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

This bill proposes a New Jersey tax credit for businesses that hire formerly incarcerated individuals. Businesses would receive a 10% credit on qualified wages paid to these employees (capped at $1,200 per person per tax year), provided they hire at least 25% formerly incarcerated new employees and maintain 50% of those hires from the previous year. To qualify, employees must be in sustained employment (at least 185 business days) and businesses must conduct targeted recruitment for formerly incarcerated individuals and their immediate families. The bill includes safeguards against abuse, such as denying credits if businesses displace other workers solely to claim the credit, and prevents double-dipping with other state tax credits.