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NJ S476

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Owen Henry

Click for details

Origin

Senate

2026-2027 Regular Session

AI Summary

  • Creates a tax credit equal to 10% of salary and wages paid to employees who lost their previous job due to automation, capped at $2,500 per employee per year
  • Applies to both corporation business tax and gross income tax for businesses headquartered in New Jersey
  • Requires employers to retain the qualifying employee for at least seven months during the tax year to claim the credit
  • Defines "automation" as a device, process, or system that functions without continuous input from a human operator
  • Takes effect for tax years beginning January 1 of the year following enactment

Legislative Description

Provides corporation business and gross income tax credit for employment of persons who have experienced job loss due to automation.

Labor

Last Action

Introduced in the Senate, Referred to Senate Labor Committee

1/13/2026

Committee Referrals

Labor1/13/2026

Full Bill Text

No bill text available