Establishes grant program in Department of Treasury for certain employers affected by winding down of Affiliated Physicians and Employers Master Trust; makes appropriation.

This bill establishes a grant program to reimburse certain New Jersey employers for costs they incurred due to the bankruptcy of the Affiliated Physicians and Employers Master Trust (which provided health benefits for small businesses). Employers that were members of the trust during 2020-2021 and paid assessments to cover its liabilities may apply for grants covering the exact amount of those assessments. The State Treasurer will evaluate applications and issue grants within 24 months of the bill's effective date, using federal pandemic relief funds allocated for this purpose. The program directly affects approximately 2,500 physician practices and small businesses that were members of the trust before its 2021 bankruptcy.