The bill establishes the "New Jersey Workplace Skills Savings Program," which allows employees in the state to create individual savings accounts dedicated to job training and skills development. Employees aged 18 and older can contribute up to $1,000 annually to their accounts, with the state providing a dollar-for-dollar match for these contributions. The program is designed to promote engagement in additional job training and is administered by the Department of Labor and Workforce Development, while the Department of the Treasury manages the financial aspects of the associated trust fund.

To support the implementation of this program, the bill appropriates $25 million from the General Fund. The funds will be used for various purposes, including matching contributions and covering training-related expenses such as apprenticeship costs, licensing exams, and formal education. The Department of Labor will also be responsible for producing annual reports detailing the program's financial operations and benefits, including the number of enrollees and total training expenses approved. The program is set to take effect on January 1, 2027, with provisions for anticipatory administrative actions prior to that date.