Allocates assistance to unemployment compensation fund from federal government and State funds, suspends certain increases in employer taxes, and adjusts wages for purpose of calculation of rate of employer contribution to fund.

This New Jersey bill allocates federal government assistance from the American Rescue Plan Act and state funds to repay federal unemployment insurance loan advances in the state's unemployment compensation fund for fiscal years 2022-2024. It requires the Commissioner of Labor to submit annual reports to the Legislature about fund solvency, including estimates of needed deposits to prevent employer contribution rate increases. The bill modifies how employer contribution rates are calculated, specifying that for fiscal year 2023 rates will be based on column "C" of the experience rating table rather than the actual fund reserve ratio, and for 2024 rates will be based on column "D". For 2023, it also adjusts wage definitions for contribution calculations to include specific wage thresholds. These changes directly affect employers who pay into New Jersey's unemployment compensation system.