This bill clarifies the independent contractor status for certain licensed or regulated professionals in New Jersey. It stipulates that individuals classified under a written agreement as independent contractors will not be considered employees for any purpose under state law. The professionals included in this classification are licensed insurance producers, broker-dealers, agents, investment advisers, individuals operating vehicles for freight delivery from marine terminals or rail facilities, and those meeting specific criteria for exemption under unemployment compensation law.

Additionally, the bill specifies that these professionals are not required to meet any further tests to be recognized as independent contractors, including those outlined in the New Jersey State Wage and Hour Law. The legislation aims to affirm the historical treatment of these professionals as independent contractors and applies retroactively to any written agreements made before or after the bill's effective date, ensuring that the terms of those agreements are enforced without alteration.