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Assembly Commerce and Economic Development Committee Statement to Assembly, No. 5286 (March 20, 2023)

Summary

An Assembly Commerce and Economic Development Committee statement to Assembly, No. 5286, State of New Jersey, dated March 20, 2023, reporting the bill favorably. The bill modifies employee health benefits requirements under the Business Retention and Relocation Assistance Grant Program, the Business Employment Incentive Program and the Grow New Jersey Assistance Program. Certain participating businesses could satisfy the requirement if health benefits are provided by the business or under a collective bargaining agreement, no later than 90 days of the employee start date, under a plan authorized by State or federal law.

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“Assembly Commerce and Economic Development Committee Statement to Assembly, No. 5286 (March 20, 2023).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/a5286-ace-statement-3-20-23-2a048db13e/, SHA-256 0fcf9ecc2249b98b09f498d2443b5ee87a9066bebfa6f8c7f1748eda183707b6.

Full text

ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 5286

STATE
OF NEW JERSEY

DATED: MARCH
20, 2023

The Assembly Commerce and Economic Development Committee
reports favorably Assembly Bill No. 5286.

This bill modifies the employee health benefits
requirements under the Business Retention and Relocation Assistance Grant
Program, the Business Employment Incentive Program, and the Grow New Jersey
Assistance Program. These programs require participating businesses to create
a certain number of positions with full-time employees, and to provide those
full-time employees with employee health benefits. The bill would allow
certain businesses participating in these programs to satisfy this requirement
if the employee health benefits are provided by the business or pursuant to a
collective bargaining agreement, no later than 90 days of employee start date,
under a health benefits plan authorized pursuant to State or federal law.

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