LEGISLATIVE FISCAL ESTIMATE
SENATE, No. 3501
STATE OF NEW JERSEY
219th LEGISLATURE
DATED: JUNE 29, 2021
SUMMARY
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Synopsis: |
Exempts certain commercial fishermen from coverage under “unemployment compensation law.” |
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Type of Impact: |
Annual decrease in revenue and expenditures to the Unemployment Compensation Fund |
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Agencies Affected: |
Department of Labor and Workforce Development |
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Office of Legislative Services Estimate |
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Fiscal Impact |
Annual |
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Expenditure Decrease to UI Fund |
Indeterminate |
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Revenue Decrease to UI Fund |
Indeterminate |
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· The Office of Legislative Services (OLS) notes that the bill will result in annual indeterminate, likely marginal, decreases in revenues and expenditures to the Unemployment Compensation (UI) Fund. The revenue and expenditure decreases will be realized by exempting commercial fishermen, whose compensation is comprised solely of a percentage of fish caught or a percentage of the proceeds from the sale of the catch, from UI compensation benefits and also exempting them from liability to UI taxes.
BILL DESCRIPTION
This bill exempts from coverage under the unemployment compensation law any services provided by a commercial fisherman whose compensation is comprised solely of a percentage of fish caught or a percentage of the proceeds from the sale of the catch. The exempted commercial fisherman would not be subject to UI taxes and not be eligible for UI benefits.
FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS notes that the bill will result in annual indeterminate, likely marginal, decreases in revenues and expenditures to the UI Fund. The revenue and expenditure decreases will be realized by exempting commercial fishermen, whose compensation is comprised solely of a percentage of fish caught or a percentage of the proceeds from the sale of the catch, from UI compensation benefits and also exempting them from liability to UI taxes.
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Section: |
Commerce, Labor and Industry |
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Analyst: |
Senior Fiscal Analyst |
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Approved: |
Thomas Koenig Legislative Budget and Finance Officer |
This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).