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 New Jersey manufacturers. It allows qualifying manufacturers (those with 50 or fewer employees in good tax standing) to deduct up to $100,000 annually from their taxable income for deposits into a special "manufacturing reinvestment account." Funds in the account earn tax benefits: if used for machinery/equipment or workforce training at their New Jersey facility, the earnings are taxed at half the standard rate. The program applies for five consecutive years, with unused funds taxed at full rate after that.