Acting again on his commitment to reduce taxes for hardworking New Jerseyans, Governor Chris Christie signed legislation on Friday July 1, 2011 that provides for reductions in worker taxes paid into the State disability benefits fund, lowering the amount of payroll taxes deducted from many New Jerseyans’ paychecks. The bill, S-2609/A-3792 (Turner, Madden/Milam), revises the methodology for funding the State’s temporary disability benefits system by replacing the current flat tax rate of one-half of one percent (0.5%) on each worker’s taxable wage base. This revised funding system takes effect on January 1, 2012 and will result in a payroll tax reduction for New Jersey workers covered under either the State temporary disability benefits plan or an approved private plan. The move responsibly decreases the overall tax burden on New Jersey residents without jeopardizing the health of the Temporary Disability Fund (TDI).
Governor Christie also signed the following bills into law:
S-483 w/GR/A-3295 (Lesniak/Coutinho, Quigley, Wagner, Watson Coleman)
- Expands availability of general development plan approvals and long-term vesting of preliminary and final site plan approvals in Smart Growth areas
S-2580/A-3794 (Turner, Madden, Greenstein/DeAngelo, Barnes, Gusciora)
- Requires specific instructions for workers filing unemployment insurance claims