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 annually. 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 also outlines the regulatory framework for implementing the tax credit program, allowing the commissioner to adopt necessary regulations and requiring biennial reports on the program's effectiveness. Employers must submit certificates of credit to claim the tax credits, and the bill specifies that unused credits cannot be carried forward. Overall, this legislation aims to encourage employers to support their employees' family responsibilities by providing financial incentives for offering paid leave for school-related activities.