Bill
Bill > A4095
NJ A4095
NJ A4095Reduces employer unemployment taxes by adjusting the unemployment compensation fund experience rate column for FY2024.
summary
Introduced
05/26/2022
05/26/2022
In Committee
05/26/2022
05/26/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Current law requires that unemployment contribution rates for employers, for fiscal year 2024, will be the rates set by column "E" of the experience rating table. The bill modifies this provision of law to specify that notwithstanding any other provision of law concerning the actual fund reserve ratio, the contribution rate for employers liable to pay contributions for fiscal year 2024, would be the rates set by column "D" of the table.
AI Summary
This bill modifies the existing law to specify that, notwithstanding the actual fund reserve ratio, the contribution rate for employers liable to pay unemployment contributions for fiscal year 2024 shall be the rates set by column "D" of the experience rating table, rather than the rates set by column "E" as required under current law. This change will effectively reduce employer unemployment taxes for fiscal year 2024.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Introduced, Referred to Assembly Labor Committee (on 05/26/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A4095 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A4500/4095_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A4500/4095_I1.PDF |
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