Voluntary Portable Benefit Plan Act; create for contributions by hiring parties to independent contractors' portable benefit accounts.

Summary

The bill lets a hiring party contribute money to a portable benefit account that an independent contractor owns, either directly or by withholding a portion of the contractor’s pay with written consent. Contributions are deductible for the hiring party and are not counted as taxable income for the contractor. The measure failed to pass and died in committee.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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