Bill Text: NJ A4164 | 2022-2023 | Regular Session | Amended

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Bill Title: Establishes fringe benefit rate for State colleges and universities.

Spectrum: Moderate Partisan Bill (Democrat 9-1)

Status: (Introduced - Dead) 2023-06-22 - Reported out of Assembly Comm. with Amendments, 2nd Reading [A4164 Detail]

Download: New_Jersey-2022-A4164-Amended.html

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[First Reprint]

ASSEMBLY, No. 4164

STATE OF NEW JERSEY

220th LEGISLATURE

 

INTRODUCED JUNE 2, 2022

 

 

Sponsored by:

Assemblyman  DANIEL R. BENSON

District 14 (Mercer and Middlesex)

Assemblyman  ANTHONY S. VERRELLI

District 15 (Hunterdon and Mercer)

Assemblywoman  VERLINA REYNOLDS-JACKSON

District 15 (Hunterdon and Mercer)

 

Co-Sponsored by:

Assemblywomen Jasey and Jaffer

 

 

 

 

SYNOPSIS

     Establishes fringe benefit rate for State colleges and universities.

 

CURRENT VERSION OF TEXT

     As reported by the Assembly Appropriations Committee on June 22, 2023, with amendments.

  

An Act establishing a fringe benefit rate for State colleges and universities and supplementing Title 18A of the New Jersey Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    Beginning with the State fiscal year ¹[2024] 2025¹ and each fiscal year thereafter, the Director of the Division of Budget and Accounting in the Department of the Treasury shall establish a separate fringe benefit rate for State colleges and universities.  The separate fringe benefit rate shall reflect the actual cost of employee retirement programs at those colleges and universities, and shall be applied to all federal, dedicated, and non-State funded programs.

 

     2.    This act shall take effect immediately.