Bill > A5486

Introduced Session

This bill increases the remote work flexibility for current New Jersey Economic Development Authority (EDA) tax credit awardees. Businesses that received certain tax credit awards under the "New Jersey Economic Opportunity Act of 2013" prior to the coronavirus 2019 (COVID-19) pandemic agreed, as a condition of receiving the award, that 80 percent of the business's employees are to be on-site for at least 80 percent of their worktime, known as the"80/80 policy." Due to the COVID-19 pandemic and the subsequent Executive Orders issued by the Governor in response to the unprecedented public health and economic impact it posed and still continues to pose, many businesses have been forced to allow their employees to work remotely. This situation has negatively affected EDA tax credit awardees, who, under current law, must forfeit tax credit amounts until the business can demonstrate the restoration of the number of full-time employees employed by the eligible business at its qualified business facility under the 80/80 policy. This bill allows businesses to retain and continue to be eligible for tax credit awards by letting employees work at any location, not just those deemed to be qualified business facilities.

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Ronald Dancer (R)*,  Jean Stanfield (R), 

Introduced, Referred to Assembly Commerce and Economic Development Committee (on 03/17/2021)