Labor & Employment (Small Business)

This bill creates the New Jersey Small Business Indoor Air Quality Management Support Program to provide financial assistance to small businesses with 100 or fewer employees. Administered by the New Jersey Economic Development Authority in partnership with the Department of Environmental Protection, the program offers loans for capital purchases, employee training, and new hires aimed at improving indoor air quality. To ensure quality, any work funded by the program must be performed by organizations certified by specific industry bureaus, and businesses that receive grants may apply for a state certification based on a successful inspection. The authority sets the interest rates and terms for these loans while requiring applicants to prove their eligibility as small businesses.

This bill provides tax credits to small business employers (under 25 employees and $1 million annual revenue) and farm employers in New Jersey for increased costs of mandatory insurance. Specifically, it credits businesses for the difference between their current-year expenses on workers' compensation, temporary disability, and unemployment insurance versus what they paid in the prior year. The credit is capped at $12,000 annually per business and applies to both corporation business tax and gross income tax filings. The program runs from 2020 through 2029, helping qualifying small employers offset rising insurance costs.

This bill exempts small businesses from a requirement to participate in registered apprenticeship programs when registering to bid on public works contracts in New Jersey. It defines "small business" as an employer with 10 or fewer workers on every working day during most of the calendar workweeks in the current and previous year. The exemption applies specifically to the apprenticeship participation requirement listed in Section 5(a)(6) of the Public Works Contractor Registration Act (P.L.1999, c.238). This change directly affects small construction and contracting firms seeking public projects, removing a regulatory burden related to workforce training programs.

This New Jersey bill (S 1853) provides tax credits to small business employers (fewer than 25 employees, under $1 million annual revenue) and farm employers for increased mandatory insurance costs. It allows a credit equal to the difference between current-year costs for workers' compensation, disability, and unemployment insurance versus the prior year’s costs for the same employees/wages, capped at $12,000 annually. The credit applies to corporation business tax and gross income tax filings for tax periods starting January 1, 2020, through December 31, 2029. Businesses cannot use the same costs for other tax credits or incentives during overlapping periods.