The bill establishes an Artificial Intelligence Apprenticeship Program within the New Jersey Department of Labor and Workforce Development, aimed at fostering collaboration between companies in the artificial intelligence industry and educational institutions. The program will provide apprenticeship opportunities focused on artificial intelligence technology, data analytics, and automation, while also assisting employers in creating and managing compliant apprenticeship programs. Additionally, the program will inform employers about the associated artificial intelligence apprenticeship tax credit.

To incentivize participation in the apprenticeship program, the bill introduces a tax credit for employers under both the New Jersey gross income tax and corporation business tax. Employers can receive a credit equal to one-half of the wages paid to qualified apprentices, capped at $5,000 per apprentice per privilege period. To qualify, apprentices must be unskilled or semi-skilled individuals employed for at least 20 calendar weeks as part of a training program that adheres to state and federal standards, with the apprenticeship term limited to four privilege periods. The bill is set to take effect 30 days after its enactment.