Provides STEM graduate retention tax credit for certain employers who pay certain employees' education loan debt.

This bill creates a tax credit for New Jersey employers who pay up to $5,000 annually toward the education loan debt of eligible STEM graduates. It directly affects employers in New Jersey who hire full-time employees with STEM degrees (Science, Technology, Engineering, Mathematics) from New Jersey public universities, who live in the state and are not in default on their loans. The credit applies to both corporation business tax and gross income tax, with the Higher Education Student Assistance Authority certifying qualified graduates. Employers receive the credit for each qualifying employee per calendar year, aiming to retain local STEM talent.