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
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Labor Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Lou Greenwald
DDemocratic
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