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 allows business owners in New Jersey to exclude capital gains tax from selling company shares to employee ownership structures, specifically benefiting small businesses (under 500 employees, not publicly traded, with NJ headquarters). To qualify, the sale must transfer ownership to an employee stock ownership plan (ESOP), a NJ S-corp owned by an ESOP, or a worker-owned cooperative, with employees gaining at least 30% ownership after the transaction. The tax exclusion requires pre-approval from the New Jersey Economic Development Authority (NJEDA), which verifies the deal will retain full-time NJ jobs and yield a net economic benefit to the state (measured by retained tax revenue and reduced unemployment claims). It aims to incentivize small business owners to sell to employees instead of outside buyers, preserving local jobs and state tax revenue.