The "New Jersey Works Act" establishes a framework for businesses to apply for tax credits when they create approved pre-employment and work readiness training programs in collaboration with educational institutions, nonprofit organizations, or comprehensive high schools. The act defines key terms and outlines the requirements for these training programs, which must include at least 12 weeks of paid training and target low- and moderate-income households. The Department of Labor and Workforce Development is responsible for approving these programs and ensuring compliance with relevant labor laws. Businesses can receive a tax credit equal to 100% of their contributions against their state taxes, with a total cap of $2 million in tax credits per fiscal year.

The act also specifies that participants in the training programs must be at least 16 years old, and eligibility cannot be based on the possession of a high school diploma or equivalency. The Department of Labor and Workforce Development will review proposed training plans to ensure they benefit low- and moderate-income households. Additionally, a study will be conducted two years after the bill's enactment to assess the effectiveness of the training programs and tax credits, with findings reported to the Governor and the Legislature. Notably, businesses in the construction trade are excluded from participating in this initiative.