This bill establishes a framework for providing monetary awards to whistleblowers who report violations of State tax laws by employers in the construction industry. The Director of the Division of Taxation is mandated to award individuals who provide credible information leading to administrative or judicial actions against such employers. The awards range from a minimum of 15 percent to a maximum of 30 percent of the proceeds collected from the action, depending on the contribution of the whistleblower's information. If the action is primarily based on information from public sources, the award is capped at 10 percent. The bill also includes provisions for reducing awards if the whistleblower was involved in planning the violation or if they are convicted of related criminal conduct.

Additionally, the bill specifies that certain individuals are ineligible for awards, including those who obtained information through their official duties as employees of the Department of the Treasury and those who file claims based on information from ineligible individuals. It also introduces a new requirement that any complaints regarding awards must be filed within 30 days of the award's provision, reduction, or revocation. Furthermore, employees who disclose violations are protected from retaliatory actions under the Conscientious Employee Protection Act. The bill is set to take effect 90 days after its enactment.