S.2581

New Jersey S2581 establishes a Recovery Tax Credit Program to incentivize hiring and continued employment of individuals in recovery from substance.

New Jersey S2581 establishes the Recovery Tax Credit Program to incentivize hiring and continued employment of individuals in recovery from substance use disorder. Certified employers can claim a tax credit for each eligible individual employed, based on the number of hours worked. The credit cannot exceed 50 percent of the taxpayer's liability for tax and may be carried over to subsequent years if unused. Employers must meet specific criteria, including providing employer-sponsored insurance and a recovery-supportive environment.