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Bill > A126
NJ A126
NJ A126Provides family leave for employee to attend certain events of child of employee; establishes tax credits for employer that provide full paid family leave benefits.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This establishes a permissive program wherein an employer that provides full paid leave for employees, for up to two full work days, to take time needed by the employee in connection with a child of the employee to attend a school-related conference, meeting, function or other event, will be entitled to a tax credit for the amount of wages paid to an employee for the use of the leave.
AI Summary
This bill establishes a permissive program where employers that provide full paid leave for employees, for up to two full work days, to attend their child's school-related events, will be entitled to a tax credit for the amount of wages paid to the employee during this leave. The bill sets a $10 million annual cap on the total tax credits and requires the Commissioner of Labor and Workforce Development to adopt regulations to implement the program and report on the tax credits awarded every two years. The tax credits can be claimed against the corporation business tax or gross income tax, depending on the employer's tax liability.
Committee Categories
Labor and Employment
Sponsors (2)
Last Action
Introduced, Referred to Assembly Labor Committee (on 01/09/2024)
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/2024/A126 |
| BillText | https://pub.njleg.gov/Bills/2024/A0500/126_I1.HTM |
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