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 also outlines the eligibility criteria for employers and the process for claiming these credits against either the corporation business tax or the gross income tax.

Additionally, the bill allows the commissioner to adopt necessary regulations to implement the program and mandates biennial reports on the tax credits awarded. The tax credits are designed to incentivize employers to support their employees' family responsibilities, thereby promoting a family-friendly workplace. The program is set to take effect immediately upon enactment, with tax credits available for taxable years beginning on or after January 1, 2023.