Bill > HB866

This bill allows hiring parties, which are individuals or entities that contract with independent contractors, to contribute funds to a "portable benefit account" for those independent contractors. A portable benefit account is defined as an account owned by the independent contractor, managed by a third-party provider chosen by the contractor, and used to fund benefit plans like health insurance, income replacement, life insurance, or retirement benefits. The bill also permits hiring parties to withhold a percentage of an independent contractor's compensation for these accounts, but only if both parties agree in writing, the agreement is clear and prominent, and the contractor voluntarily opts in and can opt out at any time. Importantly, these contributions cannot be used to classify a worker as an employee or to hold the hiring party liable under workers' compensation laws. The bill also brings forward existing Mississippi Code sections related to tax deductions for retirement plans and business expenses, and includes provisions for the effective date of the act.

Business and Industry

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0866.xml