The bill establishes an Artificial Intelligence Apprenticeship Program within the New Jersey Department of Labor and Workforce Development, aimed at creating apprenticeship opportunities in the artificial intelligence sector. The program will collaborate with industry companies to provide training in artificial intelligence technology, data analytics, and automation, while also facilitating partnerships between employers and educational institutions. Additionally, it will assist employers in setting up apprenticeship programs that meet state and federal standards and inform them about the associated tax credit program.

Furthermore, 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 hire qualified apprentices can receive a tax credit equal to one-half of the wages paid to the apprentice, 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 adheres to state and federal standards, with the apprenticeship term not exceeding four tax years.