Sen. Paul Sarlo

Maddy summaryThis bill (S 3812) removes a restriction that allowed the Police and Firemen’s Retirement System (PFRS) to withhold retirement or death benefits from members due to ongoing civil lawsuits related to their employment. It directly affects current and future PFRS members (police officers and firefighters) who are involved in civil litigation over their jobs. The bill requires the PFRS Board to pay benefits immediately, but permits adjustments if a legal case later results in penalties. It maintains existing rules that allow withholding for criminal charges or administrative dismissals from public employment.

Maddy summaryS 2026 is a budget bill that allocates $58.78 billion in state funds and $31.01 billion in federal funds for New Jersey's government operations during fiscal year 2026 (July 1, 2025-June 30, 2026). This bill provides the necessary funding for all state departments and programs to operate throughout the upcoming fiscal year. The bill does not create new policies or programs, but rather appropriates existing funding sources to support ongoing state government functions.

Maddy summaryS4503 allows New Jersey individual taxpayers to deduct capital gains from selling qualified small business stock (QSBS) held for over five years from their state gross income. The deduction amount depends on the percentage of the company's payroll attributable to New Jersey: up to $10 million (or 10x the stock's adjusted basis) if 80%+ payroll is in-state, or up to $8 million (or 8x the basis) otherwise. To qualify, the stock must be in a C corporation meeting strict criteria (under $50M assets, fewer than 225 employees, active business operations in non-excluded sectors like services or farming), and held for five years. This deduction is modeled after federal tax treatment but applies specifically to New Jersey income tax.

Maddy summaryS 4614 allows motor vehicle franchisors (manufacturers/distributors) operating in New Jersey to sell, lease, or assign vehicles to their employees and for promotional, testing, marketing, or product familiarity purposes, with a limit of 50 vehicles total. The bill creates a special "M" license for franchisors to provide vehicles to employees, requiring proof of employment to be kept on file for four years, but does not authorize retail sales to the general public. Vehicles provided under this program are eligible for standard license plates, and franchisors using this program are not required to maintain a physical location for displaying or servicing vehicles. This legislation specifically targets franchisors who are not engaged in typical retail vehicle sales to the public.

Maddy summaryThis bill allows New Jersey individual taxpayers to deduct certain capital gains from selling qualified small business stock held for more than five years. It applies to stock in C corporations that meet specific requirements, including having no more than $50 million in assets at issuance, using at least 80% of assets in active qualified businesses (not service industries like law or finance), and having 80% of payroll in New Jersey. The deduction is limited to the greater of $10 million (reduced by prior years' deductions) or ten times the stock's adjusted basis. The bill aims to encourage investment in New Jersey-based small businesses by reducing capital gains tax on qualifying stock sales after a five-year holding period.

Maddy summaryThis bill increases tax rates on cigarettes, liquid nicotine, and container e-liquid in New Jersey. It raises the cigarette tax from $0.135 to $0.15 per cigarette (or $2.70 to $3.00 per pack), increases the liquid nicotine tax from $0.10 to $0.30 per milliliter, and raises the container e-liquid tax from 10% to 30% of retail price. The bill requires businesses to file inventory reports and pay the higher tax rates on existing inventories when the changes take effect on August 1, 2025. It also dedicates $2 million annually from these new tax revenues to the Health Care Subsidy Fund, which supports healthcare programs.

Maddy summaryThis bill provides $142.6 million in supplemental funding for New Jersey's FY2025 budget, adding specific allocations to existing appropriations. It directly affects state departments and programs, including $15 million for a community opioid prevention program (focusing on education and harm mitigation like naloxone distribution), $75 million for University Hospital capital improvements, and $20 million to offset transit revenue losses from a recent fare holiday. The bill also adds language provisions directing $625 million from the Health Care Affordability Fund to support NJ FamilyCare and allocating $15 million for World Cup tourism events. These changes adjust funding streams without altering existing laws or creating new programs.

Maddy summaryThis bill appropriates $247.1 million from New Jersey's Debt Defeasance and Prevention Fund: $222 million for the Department of Corrections to build a new women's correctional facility in Chesterfield Township (replacing Edna Mahan Correctional Facility for Women), and $25.1 million for other state capital projects recommended by the Capital Budgeting Commission. It also establishes a process for future fund use to pay off state debt without new borrowing, requiring the Joint Budget Oversight Committee to review and approve capital projects quarterly. If the committee misses a deadline, projects submitted over 45 days prior are automatically approved. The bill directly affects state agencies managing correctional facilities and capital construction projects.

Maddy summaryThis bill increases tax credits for investors who fund New Jersey emerging technology businesses, raising the credit rate from 20% to 60% of qualified investments, with an additional 5% available for investments in opportunity zones, low-income communities, or certified minority/women-owned businesses. It also lowers the maximum employee count for qualifying businesses from 225 to 150 employees. The bill repeals the "New Jersey Ignite Act" while updating definitions and mechanisms for the tax credit program to better support technology startups across fields like biotechnology, renewable energy, and advanced computing. This change directly affects individual investors and venture funds making qualifying investments in New Jersey-based technology businesses.

Maddy summaryThis bill creates a New Jersey state program requiring that at least 3% of state contracts for goods, equipment, construction, or services be set aside exclusively for "union business enterprises" (UBEs). UBEs must have a union workforce, be headquartered in New Jersey, hire apprentices, and document good-faith efforts to maintain a diverse workforce. The Department of the Treasury will verify UBE eligibility, maintain a list of qualified businesses, and handle disputes about designations. Businesses falsely claiming UBE status to win contracts may face penalties, including repayment of the contract value plus up to 10% in fines, and temporary bans from state contracts.