A 2800 New Jersey General Assembly · 2024-2025 Regular Session

Reduces employer unemployment taxes by adjusting the unemployment compensation fund experience rate column for FY2024.

This bill changes the unemployment tax rate calculation for New Jersey employers for fiscal year 2024. It specifies that employers will pay taxes based on column "D" of the experience rating table instead of column "E," which would have been the default. This adjustment lowers the tax rate for most employers, reducing their unemployment insurance contribution costs. The change affects all employers subject to New Jersey's unemployment compensation system. The bill implements this by modifying the existing law to override the standard calculation method for FY2024.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Labor Committee
lower
1 primary · 0 co-sponsors

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Role
Legislator
Party
State
District
P
Photo of Lou Greenwald
Lou Greenwald
DDemocratic
NJ
6