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 qualified apprenticeship programs can receive a tax credit equal to the lesser of $5,000 per apprentice or half of the wages paid to the apprentice, provided the apprentice is employed for at least 20 weeks during the privilege period. The program is designed to support the development of a skilled workforce in the artificial intelligence industry while incentivizing employers to invest in training unskilled or semi-skilled workers.