Relates to the election to have federal and/or state income tax deducted and withheld from an individual's unemployment insurance benefits

2025 Regular Session Introduced by Chris Burdick

The bill requires the Treasury to update the New Jersey Disparity Study every five years (starting 2029) to reflect changes in availability and use of targeted businesses in state

REFERRED TO LABOR

Summary

A 4721 would require the New Jersey Department of the Treasury to annually review and update the New Jersey Disparity Study (the study on availability and utilization of small, minority, women, and service-disabled veteran-owned businesses in state procurement). Updates would be submitted to the Governor and the Legislature every five years, beginning January 1, 2029, and would reflect changes in the availability and utilization of these businesses in state procurement. The act would take effect immediately. Notably, the bill’s content focuses on disparity study updates rather than the unrelated topic suggested by the initial bill title (unemployment tax withholding).

Key Provisions

Section 1: The Department of the Treasury must prepare and submit to the Governor and Legislature updates to the New Jersey Disparity Study of 2024 no later than January 1 of every fifth year, starting January 1, 2029.

Updates must cover, at minimum, changes in the availability and utilization of small, minority, women, and service-disabled veteran-owned businesses in State procurement.
Updates are to be submitted pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1).

Section 2: Effective date is immediate.

Affected Parties and Impact

State agencies and the Department of the Treasury: Responsible for producing and submitting the disparity study updates.

Small, minority, women, and service-disabled veteran-owned businesses: The updates will reflect changes in their availability and utilization in state procurement, potentially informing ongoing procurement policies and contracting opportunities.

Governor and Legislature: Receivers of the updates to guide policymaking and procurement equity initiatives.

Timeline and Procedural Details

Background: The current disparity study referenced is the 2024 study.

Initial action: Introduced in the Assembly on September 12, 2024.

Committee actions: Reported favorably by the Assembly Community Development and Women’s Affairs Committee on September 23, 2024.

Current status: Referred to the Labor Committee on February 5, 2025.

Implementation timeline: Updates due every five years, no later than January 1 of each fifth year, beginning January 1, 2029.

Effect: Immediate upon enactment for the act’s operational provisions.

Legislative History

Sponsor: Chris Burdick (primary).

Related bills: A 9462 (prior-session), A 1573 (prior-session).

Official actions:

2024-09-12: Introduced and referred to Assembly Community Development and Women's Affairs
2024-09-23: Reported favorably by the Assembly committee
2025-02-05: Referred to the Labor Committee

Note on Title vs. Content

The bill’s title references unemployment insurance tax withholding, but the actual text and committee materials address periodic updates to the New Jersey Disparity Study and related procurement equity considerations. Readers should treat the substantive content as the disparity-study-update requirement unless a formal title correction is issued.