ASSEMBLY LABOR COMMITTEE

STATEMENT TO

ASSEMBLY, No. 3986

STATE OF NEW JERSEY

DATED:  MAY 16, 2024

      The Assembly Labor Committee reports favorably Assembly Bill No. 3986.

      This bill revises the workers’ compensation law to increase the cap in contingency fee matters from 20 percent to 25 percent.  Attorneys for injured workers are often compensated on a contingency fee basis, and the original cap of 20 percent does not take into account additional duties that workers’ compensation attorneys are required to handle since the cap’s establishment.

      As reported, this bill is identical to Senate Bill No. 2822 of the 2024-2025 session.