On June 27, the New Jersey Senate Budget and Appropriations Committee and the Assembly Budget Committee voted on the final $50.6 billion FY2023 budget. Few details were available when the bill passed the Senate and Assembly Committees and the CCSNJ will share additional details as they become available. Though grateful the budget did not include new taxes or fees, but did include spending towards workforce development and infrastructure, CCSNJ Manager of Government Affairs Hilary Chebra expressed disappointment that more funding was not allocated to businesses, specifically small businesses, since the Governor's initial budget was proposed in March.

However, the Committees heard several businesses friendly bills that the CCSNJ supported. Ms. Chebra testified in the Senate Budget & Appropriations Committee on A-3683/A-2152/S-733/ S-2378 (Freiman/ Greenwald/Chaparro/Dancer/Madden/Singleton), which would provide tax credits to small businesses to offset an increase in State Unemployment Insurance contributions. This much needed bill will provide relief from UI tax increases for small businesses.

Additionally, Ms. Chebra testified on A-4222/S 2796 (Freiman/Egan/Calabrese/ Gopal), which would expand working hours for teenagers. The bill passed the Committee unanimously. The CCSNJ was proud to support this bill that will help New Jersey’s tourism industry and shore businesses struggling with labor shortages.

Both bills will receive a final vote tomorrow, June 29 and go to the Governor's desk for his signature. The CCSNJ encourages members to reach out to the Governor and express your strong support for:

A-3683/A-2152/S-733/S-2378

A-4222/S-2796 

Below is the full list of CCSNJ supported bills heard in the Senate Budget and Appropriations Committee:

S-287 (Greenstein/Singleton) - Provides CBT and gross income tax credits for certain deliveries of low carbon concrete and for costs of conducting environmental product declaration analyses of low carbon concrete.

S-733 (Madden/Singleton) - Allocates sufficient funds to unemployment compensation fund from federal government assistance and halts increases in employer unemployment taxes related to benefits paid during coronavirus disease 2019 pandemic state of emergency.

S-1212 /A-2676 (Testa/McClellan) - Revises permitting thresholds for certain types of development requiring CAFRA permit from DEP.

S-1943 (Cruz-Perez/Ruiz) - Establishes Division of Minority and Women Business Development and State Chief Disparity Officer to monitor efforts to promote participation by minority-owned and women-owned businesses in State contracting.

S-2080 (Testa/Gopal) - Repeals $100,000 cap on sales and use tax exemption for certain capital improvements made by businesses participating in Urban Enterprise Zone program.

S-2378 (Gopal/Zwicker) - Provides tax credits to small businesses to offset increase in State Unemployment Insurance contributions.

S-2791 (Ruiz/Cruz-Perez) - Provides sales and use tax exemption for certain purchases made by all supermarkets and grocery stores located within urban enterprise zones.

S-2796/A-4222 (Gopal/Freiman/Egan/Calabrese) - Expands working hours for minors; updates process for obtaining working papers for minors.

S-2830/A-4224 (Greenstein/Beach/Mosquera/Freiman/Jasey) - Provides project grants under "Securing Our Children's Future Fund" for career and technical education at county colleges; appropriates $19,993,837.

S-2831/A-4225 (Gopal/Greenstein/Jaffer/Conaway/Calabrese) - Provides project grants under "Securing Our Children's Future Fund" for career and technical education at county vocational school districts; appropriates $36,960,028.

S-2909 (Diegnan) - Authorizes DOT to compensate contractors and subcontractors affected by supply chain shortages; appropriates $10 million.

S-2914 (Madden/Gopal) - Establishes annual sales tax holiday for certain retail sales of computers, school computer supplies, school supplies, school art supplies, school instructional materials and sport or recreational equipment.

S-2917 (Cruz-Perez) - Expands allowance for developers to carry forward unused tax credits under New Jersey Aspire Program.

S-2921 (Zwicker) - Revises various provisions of Food Desert Relief Program.

S-2944 (Sarlo) - Credits $5.2 billion to "New Jersey Debt Defeasance and Prevention Fund"; appropriates $2.9 billion to NJ Schools Development Authority, NJ DOT, and NJT; and establishes process for authorizing future appropriations for debt defeasance and capital project

A-3683/A-2152 (Freiman/Greenwald/Chaparro/Greenwald/Chaparro/Dancer) - Provides for transfers from General Fund to UI trust fund, reduces employer contributions to UI trust fund, assesses contributions from employers to repay transferred amounts, and provides tax credits to small businesses to offset UI tax increases.

Below is the full list of CCSNJ supported bills heard in the Assembly Budget Committee:

A-1522 (Moriarty/Greenwald/Lampitt) - Establishes annual sales tax holiday for certain sales of personal computers and certain sales of school supplies and equipment during first full weekend of August.

A-4162 (Freiman) - Credits $1.3 billion to "New Jersey Debt Defeasance and Prevention Fund"; appropriates $1.3 billion.

A-4374 (Benson/Pintor Marin) - Authorizes DOT to compensate contractors and subcontractors affected by supply chain shortages; appropriates $10 million.

A-4395 (Pintor Marin/Freiman/Reynolds-Jackson) - Expands allowance for developers to carry forward unused tax credits under New Jersey Aspire Program.