New Jersey Assembly Bill A2513

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Provides employers with various tax incentives for hiring persons with disabilities under insurance premiums tax, corporation business tax and gross income tax.

Impact

The introduction of A2513 is intended to foster an inclusive workforce and promote equitable employment opportunities for individuals with disabilities. By lowering the financial barriers for employers through tax credits, the legislation seeks to motivate businesses to consider hiring disabled individuals. The expected impact includes not only a boost in employment rates for people with disabilities but also a long-term economic benefit as inclusivity often translates into a more diverse and capable workforce.

Summary

Assembly Bill A2513 aims to encourage employers in New Jersey to hire individuals with disabilities by providing various tax incentives. The bill outlines a structure for implementing these incentives through tax credits, affecting the insurance premiums tax, the corporation business tax, and the gross income tax. Employers can receive a credit based on a percentage of wages paid to employees classified as having a disability, along with additional credits for transportation and accommodations to enhance workplace accessibility.

Contention

While the goal of A2513 is broadly supported, discussions surrounding the bill highlight potential concerns about its implementation. Critics point out that the certification process for eligible employees with disabilities may introduce bureaucracy that could deter employers from utilizing the incentives. There is also debate over the extent to which these credits will significantly affect hiring practices, particularly in small businesses that may not have the capacity for expanded accommodations. Stakeholders are concerned that while financial incentives are beneficial, they might not adequately address the deeper societal challenges faced by individuals with disabilities in obtaining employment.