Maddy summaryNew Jersey's S 259 prohibits state pension and annuity funds from investing in hedge funds or derivative contracts (like futures, options, and swaps). This directly affects all state pension funds managed by the Division of Investment, including those for police and firefighters. The bill requires these funds to sell existing holdings of such investments within three years of the law's effective date. It also mandates an annual report to the legislature detailing divestment progress, while allowing the state to sell investments prudently without forcing premature sales.
Sponsored bills
Maddy summaryThis bill expands New Jersey optometrists' scope of practice to include administering vaccines for coronaviruses, influenza, and shingles (for patients 18+), prescribing certain medications (including controlled substances under specific conditions), and performing limited eye procedures like laser treatments and minor surgeries. It requires optometrists to follow CDC vaccine guidelines, report immunizations to the state system, and avoid invasive surgeries or general anesthesia. The changes clarify that optometrists must adhere to medical standards for pharmaceutical use and cannot perform procedures requiring full-thickness eye incisions or orbital surgery. This modernizes optometric care while maintaining safety boundaries for patient treatment.
Maddy summaryThis bill equalizes retirement benefits for New Jersey teachers by removing tiered membership in the Teachers’ Pension and Annuity Fund (TPAF). It moves all current non-retired TPAF members to the same benefit tier as those who joined before July 2007, and requires enrollment of public school employees meeting salary but not hour requirements. Educators in the Defined Contribution Retirement Program (DCRP) can automatically transfer service credit to TPAF (without transferring contributions), with an opt-out option within six months. It also expands disability retirement eligibility for current long-term disability recipients, requiring applications within two years of enactment.
Maddy summaryThis bill expands New Jersey's Lifeline Credit Program and Tenants' Lifeline Assistance Program to include water utility bill assistance, which was previously limited to electricity and gas. It directly affects low-income households already eligible for benefits like Supplemental Security Income (SSI), disability benefits, or the Pharmaceutical Assistance to the Aged and Disabled program. The key mechanism adds one-third of the $200 annual credit to water bills (with the remaining two-thirds split between electricity and gas), applying to both homeowners and tenants. The program remains funded through state appropriations, with payments applied to utility bills as soon as eligibility is confirmed.
Maddy summaryS 266 requires state contractors bidding on government contracts to submit annual reports measuring gender-based pay gaps (e.g., men and women doing similar work earning different wages) and gender segregation in job titles (e.g., certain roles dominated by one gender). The state’s Division of Purchase and Property will develop a standardized reporting system, assign each bidder a rating based on their equity performance, and consider this rating alongside price when awarding contracts. The bill exempts urgent contracts needing immediate delivery and contracts funded partly by federal money that would lose eligibility if subject to this requirement. This policy directly affects businesses seeking state contracts by adding pay equity as a formal evaluation factor in procurement decisions.
Maddy summaryThis bill requires New Jersey's Board of Public Utilities (BPU) to determine and consider the lowest reasonable return on equity (ROE) when reviewing rate increase requests from electric, gas, and water utility companies. It directly affects utility companies seeking rate hikes and the BPU, which must now actively seek the minimum reasonable ROE as a factor in its approval decisions. The key mechanism mandates the BPU to develop or adopt specific analytic models reflecting state, federal, and industry standards to assess this lowest reasonable ROE. This change would shift the BPU's process from evaluating proposed ROEs to proactively identifying the lowest acceptable return for rate cases, impacting how utility rate increases are approved.
Maddy summaryS 2931 establishes rules for on-demand micro transit programs in New Jersey, which are technology-enabled shared rides (via app or phone) that pick up and drop off users at selected locations. It directly affects NJ Transit, county transit agencies, and other operators by requiring them to: pay drivers fairly (matching existing wages/benefits), serve transit deserts without replacing existing routes, provide non-smartphone access, ensure disability accessibility, and report monthly data (cost per ride, wait times, etc.) for publicly funded programs. The bill creates a Micro Transit Oversight Committee to certify programs meet these standards before operation. Key mechanisms include mandatory driver licensing, prohibitions on replacing existing transit, and data transparency requirements for public funding.
Maddy summaryThis bill increases penalties for housing code violations by raising maximum fines for repeat or severe offenses. Property owners who repeatedly violate housing or zoning codes face additional fines (up to $4,000 total), and municipalities must now give owners 30 days to fix issues before imposing fines exceeding $1,250, plus a hearing opportunity. It amends existing law to set minimum fines of $10 for ongoing violations and requires courts to consider prior offenses when sentencing. The changes directly affect property owners in New Jersey municipalities enforcing housing codes.
Maddy summaryThis bill (S 279) expands New Jersey's implied consent law to require blood testing for marijuana and certain controlled substances, not just alcohol, when police suspect impaired driving. It establishes a "per se" standard under Section 39:4-50, meaning any detectable level of these substances in a driver’s system would automatically constitute a violation, without needing proof of actual impairment. The law directly affects drivers stopped by police for suspected drug or alcohol impairment, as they would now face automatic penalties for marijuana or controlled substance presence in blood tests. Key provisions include updating the implied consent language to cover drugs and creating a clear legal threshold for marijuana-related DUI offenses.
Maddy summaryThis bill requires New Jersey's State Investment Council to publish quarterly reports comparing investment returns earned by external fund managers (hired by the state) versus internal managers (state employees). The reports must include specific recommendations on whether to continue using external managers and whether to invest in assets like hedge funds, private equity, or real estate (beyond bonds and public stocks). The Council must also require external managers to disclose their fees, which will be included in these public reports. These reports will be posted on the state website and submitted to state officials, replacing current annual reporting without comparative analysis. This change aims to increase transparency in how state retirement funds are managed.