HB3373 - Blue Collar Jobs Act Summary

• Creates three new construction jobs tax credits: High Impact Business construction jobs credit (50-75% of incremental income tax), Enterprise Zone construction jobs credit (50-75%), and River Edge Redevelopment Zone construction jobs credit (50-75%), with higher rates for projects in underserved areas.

• Establishes a New Construction EDGE Credit under the Economic Development for a Growing Economy Tax Credit Act for projects with at least $10,000,000 capital investment in construction work, based on incremental income tax from construction workers.

• Requires contractors and subcontractors on qualifying projects to file certified monthly payroll reports with the Department of Labor and Department of Commerce and Economic Opportunity, including worker names, hours, wages, and classifications.

• Defines "underserved areas" as locations meeting one or more criteria: 20%+ poverty rate, 75%+ children in free lunch programs, 20%+ households receiving SNAP assistance, or unemployment rate 120%+ of national average for 2+ consecutive years.

• Imposes Class A misdemeanor penalties for willfully failing to file certified payroll or filing false payroll information; general contractors may rely on subcontractor payroll if not knowingly false.