Provides tax credits to companies contributing to loan and loan redemption program for residents who attend institutions of higher education in State and work at such company upon graduation.

This bill creates a program in New Jersey that offers tax credits to companies that contribute money to a student loan fund for residents attending in-state colleges. Companies that make contributions of at least $10,000 can receive an immediate 50% tax credit, plus an additional credit of up to 50% over time as they hire graduates who use the program loans. The program is designed to help businesses recruit and retain local college graduates by funding their education and then paying back portions of those loans when the employees work for the contributing company.