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Committee hears lengthy proponent testimony for bill to create voluntary portable benefits for independent contractors
Summary
House Bill 2602 would authorize voluntary portable benefit plans administered by third-party providers, let hiring parties contribute to individual portable benefit accounts, and provide state tax treatment for contributions beginning tax year ending 12/31/2026; proponents emphasized the bill preserves independent contractor status and is non-mandatory.
Representative Williams and the reviser summarized House Bill 2602 as a voluntary framework allowing independent contractors to create portable benefit accounts administered by third-party providers and to receive contributions from hiring parties, other entities, or their own funds.
Why it matters: Proponents said the proposal would let benefits "follow the worker, not the job," allowing access to health coverage, disability/income-replacement insurance, or retirement benefits without reclassifying independent workers as employees. The reviser explained portable benefit plan providers could include banks, investment managers,…
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