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

Summary

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

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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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