Establishes Public Education Innovation Fund; provides corporation business tax and gross income tax credits to businesses for making qualified education donations.

This bill establishes the Public Education Innovation Fund within New Jersey's Department of Education to provide grants to low-performing public schools for implementing educational innovation programs. Schools qualify if they meet specific academic performance thresholds based on state assessment results, such as high percentages of students scoring below proficiency in math or language arts. Businesses that donate to this fund receive tax credits - up to $10,000 annually for gross income tax, and corporation business tax credits - directly tied to their donations. The total tax credits available annually are capped at $5 million, with certifications issued on a first-come, first-served basis. The fund aims to address academic barriers through innovative strategies in schools meeting the defined performance criteria.