The bill establishes an Artificial Intelligence Apprenticeship Program within the New Jersey Department of Labor and Workforce Development. This program aims to collaborate with companies in the artificial intelligence sector to create apprenticeship opportunities that emphasize artificial intelligence technology, data analytics, and automation. It will also facilitate partnerships between employers and educational institutions to ensure apprentices receive the necessary training, assist employers in setting up compliant apprenticeship programs, and inform them about the associated tax credit program.

Additionally, the bill introduces an artificial intelligence apprenticeship tax credit program applicable to both the New Jersey gross income tax and corporation business tax. Employers who participate in the program can receive a tax 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 weeks as part of a training program that meets state and federal standards, with the apprenticeship not exceeding four tax years. The bill is set to take effect 30 days after its enactment.