Bill
Bill > A4804
summary
Introduced
03/23/2026
03/23/2026
In Committee
03/23/2026
03/23/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
The bill creates the "New Jersey Workplace Skills Savings Program", enabling workers to make annual investments in job training and makes a $25 million appropriation. Under the bill, residents or employees of businesses in the State will be able to set up an individual savings account which can be used to pay for job training, license fees, or other career development activities. Enrollees can deposit up to $1,000 in any calendar year in the account, and the State will match contributions on a dollar-for-dollar basis. The Department of Labor and Workforce Development will administer the program and the Department of the Treasury will manage financial responsibilities related to the trust fund and associated individual savings accounts. The department will produce an annual financial report and summary of the benefits supplied under the program to provide the status of key measurement metrics related to the program. The bill appropriates $25 million to effectuate the provisions of the bill, including the provision of matching funds.
AI Summary
This bill establishes the "New Jersey Workplace Skills Savings Program," a new initiative designed to help workers invest in their career development by creating individual savings accounts for job training. Residents or employees in New Jersey can deposit up to $1,000 annually into these accounts, which will be matched dollar-for-dollar by the State, effectively doubling the savings. The funds can be used for various training-related expenses, including apprenticeships, licensing exams, certification fees, formal classroom education at vocational schools or community colleges, and retraining for unemployed workers. The program will be administered by the Department of Labor and Workforce Development, with the Department of the Treasury managing the financial aspects of a dedicated trust fund. The bill also appropriates $25 million to fund the program, including the State's matching contributions, and mandates annual financial and benefit reports to the Governor and Legislature.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Introduced, Referred to Assembly Labor Committee (on 03/23/2026)
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/2026/A4804 |
| BillText | https://pub.njleg.gov/Bills/2026/A5000/4804_I1.HTM |
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