This bill clarifies the classification of certain licensed or regulated professionals as independent contractors in New Jersey. It stipulates that individuals who perform services under a written agreement identifying them as independent contractors will not be classified as employees for any purpose under state law. The professionals covered by this bill include licensed insurance producers, broker-dealers, agents, investment advisers, and individuals who operate vehicles for freight delivery, provided they meet specific criteria for exemption from employment definitions under existing laws.

Additionally, the bill specifies that these professionals are not required to meet any additional 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 understanding that these professionals have not been treated as employees under state law when operating under such agreements. Importantly, the provisions of this bill will apply retroactively to any written agreements made before or after its effective date, ensuring that the terms of those agreements are enforced without alteration.