Allows political subdivisions of State to purchase unused sick leave from officer or employee under certain circumstances; prohibits authorizing special emergency appropriations for unused sick leave purchases.

This bill (S 467) modifies New Jersey law to regulate how local governments can purchase unused sick leave from public employees. It sets a $15,000 cap on supplemental retirement payments for unused sick leave, limits annual purchases to 120 hours per employee (at 60% of the leave's value based on pensionable compensation), and requires employees to retain at least 800 hours of unused sick leave. The bill applies to political subdivisions (like cities and counties) and covers most public employees, excluding certain licensed professionals (e.g., health officers, tax assessors, municipal clerks). It also clarifies that sick leave purchases are discretionary and not subject to collective bargaining.