This bill establishes a program within the New Jersey Department of Labor and Workforce Development that provides tax credits to employers who offer full paid family leave for up to two working days. This leave is intended for employees to attend school-related events for their children, in addition to the earned sick leave mandated by existing law. Employers can apply for tax credits to offset the costs of wages paid to employees during this leave, with the total value of tax credits capped at $10 million per calendar year. The bill outlines the eligibility criteria for employers, the application process for tax credits, and the responsibilities of the commissioner in administering the program.

Additionally, the bill allows the commissioner to adopt necessary regulations to implement the program and mandates biennial reporting on the tax credits awarded. The tax credits can be applied against either the corporation business tax or the gross income tax, depending on the employer's tax obligations. The bill aims to encourage employers to support their employees' family needs while providing financial relief through tax incentives.