Concerns workers' compensation insurance requirements for certain corporations and partnerships.

This bill revises New Jersey's workers' compensation law to clarify that S corporations with only one owner (who is also the sole employee) are not required to provide workers' compensation coverage for that owner unless they specifically choose to do so. The corporation must elect coverage at the time of purchasing or renewing a workers' comp policy, and this election cannot be changed during the policy term. As a result, the sole owner of such an S corporation is not automatically considered an "employee" for workers' comp purposes. The change applies to all policies issued 180 days after the bill's enactment.