NJ
New Jersey Assembly Bill A2782

New Jersey 2022-2023 Regular Session

New Jersey Assembly Bill A2782

Introduced
2/28/22  

Caption

Requires reduced worker's compensation premiums for farm employers and small employers.

Impact

If enacted, A2782 will directly impact how workers' compensation premiums are assessed and calculated for eligible employers. Overseeing the implementation of this bill will be the Compensation Rating and Inspection Bureau, which, alongside the Commissioner of Banking and Insurance, will have the authority to reduce premiums based on the criteria set forth in the legislation. This adjustment could enhance the viability of smaller enterprises in New Jersey, contributing to job retention and potentially fostering growth within the agricultural sector. As a result, there may be broader economic benefits for communities reliant on small businesses and agriculture.

Summary

Bill A2782, introduced in the New Jersey legislature, aims to provide financial relief to farm employers and small businesses by mandating a reduction in workers' compensation insurance premiums by five percent. The legislation defines a 'farm employer' as any entity that employs at least one farm worker on a commercial farm, while 'small employers' are characterized as those employing fewer than six workers. This move is intended to alleviate the financial burden associated with workers' compensation costs, particularly for smaller businesses that often face challenges in managing operational expenses.

Contention

Though A2782 presents potential benefits, it may also raise concerns regarding the sustainability of workers' compensation funding and the long-term viability of the reduction scheme. Critics might argue that reduced premiums could lead to underfunded policies, which could become problematic for employees seeking compensation for work-related injuries. Additionally, the requirements for employers to continuously report their eligibility status introduce a layer of administrative burden and complexity, particularly for small businesses that may lack dedicated resources for compliance.

Companion Bills

No companion bills found.

Previously Filed As

NJ SB44

Provides for workers' compensation insurance premium reductions to certain employers. (8/1/16) (EN NO IMPACT See Note)

NJ H5678

Requires small employers with one to fifty (1-50) employees and large employers with fifty (50) or more employees to pay overtime wages to exempt workers if their salary exceeds varying multipliers of minimum wage for a forty (40) hour workweek.

NJ S0589

Requires small employers with one to fifty (1-50) employees and large employers with fifty (50) or more employees to pay overtime wages to exempt workers if their salary exceeds varying multipliers of minimum wage for a forty (40) hour workweek.

NJ HB2204

Workers' compensation; premiums

NJ A102

Provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions.

NJ A259

Provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions.

NJ S98

Provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions.

NJ S605

Provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions.

NJ A5166

Revises law concerning family leave to extend protection by reducing, over time, employee threshold from 30 employees to five employees in definition of employer.

NJ A1743

Prohibits insurers from offering stop loss insurance to small employers.

Similar Bills

NJ A4283

Provides personal liability for owner, executive officer, or executive director of employer for failure to pay for workers' compensation coverage.

CT SB01218

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GA HB263

Income tax; tax credit for certain remote work expenses incurred by employers; provide

CT HB07312

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CT HB05527

An Act Concerning The Task Force On Domestic Workers.

KS SB356

Updating certain terms, definitions and conditions relating to the requirements of certain insurance reports, examinations and transactions.

KS HB2533

Requiring that per diem amounts, expenses and funding for examinations be reasonable and establishing a tiered fee structure for examinations of insurance companies and societies based on gross premiums.

CT SB00531

An Act Concerning The Assessment Of A Fee On Certain Employers.