New Jersey S265 sets the state's mileage reimbursement rate for business use of an automobile to match the IRS rate.
New Jersey S265 amends the state's mileage reimbursement policy for officers and employees using their own vehicles for official business. It establishes that the reimbursement rate will be the same as the standard mileage rate set by the federal Internal Revenue Service for business use of an automobile. This change eliminates the current requirement to adjust the reimbursement rate twice annually based on gasoline prices. The new policy takes effect immediately upon enactment.
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