New Jersey Assembly Bill A2136

New Jersey 2022-2023 Regular Session

• Introduced: 2/7/22
• Refer: 2/7/22

Caption

Allows corporation business tax and gross income tax credits to certain businesses providing annual physical and mental health screenings to full-time and part-time employees.

Impact

The introduction of A2136 could create a significant impact on state tax laws by encouraging businesses to invest in the health and wellness of their employees. This may lead to an overall increase in employee health metrics, potentially reducing long-term healthcare costs for both businesses and the state. By incentivizing regular health screenings, the legislation aims to foster a culture of health and preventative care within the workplace, which could contribute to improved employee productivity and morale.

Summary

Assembly Bill A2136, introduced in New Jersey, seeks to provide financial incentives for businesses to promote employee health by offering tax credits. Specifically, the bill allows for corporation business tax and gross income tax credits for businesses with 25 or more employees that provide annual physical and mental health screenings. The credit amounts to 20% of the costs associated with these health screening services, excluding any costs incurred for providing health insurance to employees.

Contention

Discussions surrounding A2136 have highlighted a few notable points of contention. Supporters argue that the measure will result in healthier workplaces, ultimately benefiting the state’s healthcare system and reducing the burden on public health resources. However, some critics could raise concerns regarding the fiscal implications of providing tax credits to businesses, questioning whether the potential increase in tax revenue from healthier employees would offset the cost of the tax credits. Additionally, there may be debates on the adequacy and effectiveness of solely relying on tax incentives to stimulate widespread health practices among companies.