Bill

Bill > A981


NJ A981

NJ A981
Providing gross income tax exclusion for awards for unlawful gender-based compensation discrimination.


summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill provides the victim of gender-based wage discrimination a gross income tax exclusion for any awards or settlements that the victim may receive, to prevent a second mistreatment by the tax system. A "successful" victim of unlawful gender discrimination in compensation or in terms, conditions, or privileges of employment who has brought a claim to trial or settlement agreement may receive an award or settlement to compensate for a period of under-compensation, only to discover that the lump sum payment has pushed the victim into a higher tax bracket and an increased tax bill. This bill provides a gross income tax exclusion for awards and settlements for gender-based discrimination in compensation or in terms, conditions, or privileges of employment.

AI Summary

This bill provides a gross income tax exclusion for any awards or settlements that a victim of unlawful gender-based compensation discrimination may receive. The bill aims to prevent a second mistreatment of the victim by the tax system, which could push the victim into a higher tax bracket and increase their tax bill due to the lump sum payment received as compensation. The bill defines "unlawful gender-based discrimination in compensation or in terms, conditions, or privileges of employment" as an act that is unlawful under federal, state, or local law, or common law, and applies to the bill's effective date and future taxable years.

Committee Categories

Justice

Sponsors (1)

Last Action

Introduced, Referred to Assembly Judiciary Committee (on 01/09/2024)

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