Establishes certain exclusions and credits under gross income and corporation business taxes for contributions to lifelong learning accounts.

S 1569 creates tax benefits for New Jersey taxpayers aged 18-71 who contribute to "lifelong learning accounts" designed for education expenses. It excludes up to $2,500 in annual employer contributions and account earnings from gross income, and provides a 50% tax credit (up to $500) for individual contributions. Distributions used for qualified education expenses (like tuition, books, or training courses) remain tax-free, while non-qualified withdrawals incur a 5% penalty. The bill defines strict account rules, including annual contribution limits, prohibitions on investments in life insurance or collectibles, and requirements for account administration.