This bill establishes a Military Spouse Employment Tax Credit Program in New Jersey, aimed at incentivizing employers to hire nonresident military spouses. The program, administered by the Commissioner of Labor and Workforce Development, allows employers to apply for tax credits when they hire employees who are nonresidents of the state and are spouses of active duty military members. The bill defines a "nonresident military spouse employee" and outlines the eligibility criteria for employers to receive tax credits based on the number of hours worked by the employee.

The tax credit amount is tiered based on the hours worked: employers can receive a credit of 15% of wages for employees working between 120 and 400 hours, and 25% for those working 400 hours or more, with a maximum credit limit of $2,400 per employee per taxable year. The bill also includes provisions for the Commissioner to adopt necessary regulations for implementation and requires periodic reporting on the tax credits awarded. The program is set to take effect for taxable years beginning on or after January 1, 2020.