summary
Introduced
01/14/2020
01/14/2020
In Committee
01/14/2020
01/14/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill provides tax credits, to be awarded by the Commissioner of Labor and Workforce Development, for the hiring of certain military spouses. Under the bill, an employer may claim a tax credit for hiring an employee who is a nonresident of this State and is the spouse of an active duty member of the Armed Forces of the United States who has been transferred to this State in the course of the member's service, is legally domiciled in this State, or has moved to this State on a permanent change-of-station basis. The final amount of the tax credit provided to an employer for hiring a nonresident military spouse employee is to equal: (1) for a nonresident military spouse employee who works for an employer for at least 120 hours but less than 400 hours in a taxable year or privilege period, 15 percent of the wages provided by the employer to the nonresident military spouse employee; or (2) for a nonresident military spouse employee who works for an employer for at least 400 hours in a taxable year or privilege period, 25 percent of the wages provided by the employer to the military spouse employee; or The bill limits the final amount of a tax credit for hiring a nonresident military spouse employee to $2,400 in a tax year.
AI Summary
This bill provides tax credits, to be awarded by the Commissioner of Labor and Workforce Development, for the hiring of certain military spouses. Employers can claim a tax credit for hiring nonresident employees who are the spouses of active duty members of the U.S. Armed Forces that have been transferred to or are legally domiciled in New Jersey. The amount of the tax credit is 15% of wages for employees working at least 120 hours but less than 400 hours, or 25% of wages for employees working at least 400 hours, up to a maximum of $2,400 per employee per tax year. The Commissioner is authorized to adopt regulations to implement the program and must submit periodic reports on the tax credits awarded.
Committee Categories
Military Affairs and Security
Sponsors (3)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 01/14/2020)
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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BillText | https://www.njleg.state.nj.us/2020/Bills/A1500/1208_I1.HTM |
Bill | https://www.njleg.state.nj.us/2020/Bills/A1500/1208_I1.PDF |
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