Bill > HB0494

This bill introduces the "Voluntary Portable Benefit Act" which creates a framework for independent contractors to establish portable benefit accounts that can be funded by hiring parties. The bill defines key terms like "independent contractor" and "portable benefit account", and establishes rules for how these accounts can be funded and managed. Specifically, hiring parties can voluntarily contribute to an independent contractor's portable benefit account, which can include health insurance, income replacement, life insurance, retirement benefits, and other customary benefits. Contributions must be made through a clear, voluntary written agreement that allows contractors to opt-in or opt-out at any time. Importantly, these contributions cannot be used to determine a worker's employment classification. The bill also amends existing Tennessee law to clarify language around marketplace platforms and independent contractors, ensuring that contributions to portable benefit accounts do not automatically change a worker's classification. The aim appears to be providing more flexible benefit options for independent workers while maintaining their current employment status.

Business and Industry

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0494&ga=114