HB 1072

AN ACT TO BE KNOWN AS THE "VOLUNTARY PORTABLE BENEFIT PLAN ACT"; TO DEFINE CERTAIN TERMS; TO AUTHORIZE A HIRING PARTY TO VOLUNTARILY CONTRIBUTE FUNDS TO THE PORTABLE BENEFIT ACCOUNT OWNED BY AN INDEPENDENT CONTRACTOR; TO AUTHORIZE A HIRING PARTY TO WITHHOLD FUNDS FROM THE COMPENSATION OWED TO AN INDEPENDENT CONTRACTOR FOR THE CONTRIBUTION TO THE PERSON'S PORTABLE BENEFIT ACCOUNT; TO AUTHORIZE A DEDUCTION FROM A HIRING PARTY'S TAXABLE INCOME FOR CONTRIBUTIONS TO A PORTABLE BENEFIT ACCOUNT; TO EXCLUDE CONTRIBUTIONS TO A PORTABLE BENEFIT ACCOUNT FROM THE DETERMINATION OF AN INDEPENDENT CONTRACTOR'S TAXABLE INCOME; TO AMEND SECTIONS 27-7-17 AND 27-7-15, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.