This bill proposes tax credits for businesses that employ released nonviolent offenders, allowing them to receive a credit against the corporation business tax and the New Jersey Gross Income Tax. Specifically, businesses can claim a credit equal to 15 percent of the wages paid to each released nonviolent offender, capped at $900 per offender. The definition of a "released nonviolent offender" is provided, specifying that it includes adults who have committed certain nonviolent offenses and have completed their incarceration or community supervision.

The bill also outlines limitations on the total amount of credits that can be applied, ensuring that the combined credits do not exceed 50 percent of the tax liability. Additionally, it specifies how credits are allocated for business entities classified as partnerships or S corporations. The legislation aims to incentivize the hiring of individuals with nonviolent criminal backgrounds, thereby supporting their reintegration into society and reducing recidivism rates. The act is set to take effect immediately and will apply to wages paid in privilege periods and taxable years following its enactment.