Gov. Phil Murphy has signed an NJBIA-supported bill that will extend the ability for companies to qualify for tax and grant programs if their employees continue to work remotely part time.
Bill A-5840/S-4217 waives a requirement that employees spend at least 60% of their time in the office to account for certain tax incentive programs.
The extension, however, is only until April 1, 2024. The requirement was previously set to expire at the end of 2023.
“The business community is thankful for this additional three-month extension,” said NJBIA Chief Government Affairs Officer Christopher Emigholz. “This will give certain businesses more time to adjust to a remote workforce.”
Some tax incentive programs established prior to the COVID-19 pandemic required full-time employees to spend at least 80% of their time at their workplace. But the state reduced the in-office obligations in 2020, as many workers continued to work remotely as the pandemic subsided.