Allows small employers to claim tax credit for paying certain health benefits plan premiums.

This bill allows small New Jersey employers with fewer than 20 employees to claim a tax credit for paying health insurance premiums for their workers. Employers who cover 100% of premiums for single coverage get a $250 credit per employee, and $500 for family coverage; partial coverage (50-100%) earns a proportional credit. The credit is reduced if premiums aren’t paid for the full year, and no credit is available if less than 50% of premiums are paid. It applies to both corporation business tax and gross income tax, capping the credit at the actual amount paid and limiting total credit use to 50% of tax liability.