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

Mississippi's HB 1072 creates a voluntary program allowing hiring parties (like companies or clients) to contribute funds to portable benefit accounts owned by independent contractors. These accounts fund specific benefits such as health, disability, or retirement insurance, with contributions either paid directly by the hiring party or withheld from contractor payments (with written opt-in consent). Hiring parties can deduct 100% of contributions as a business expense, and contractors can exclude those contributions from their taxable income. The bill explicitly states that these contributions do not change a contractor's classification as an independent worker under employment laws.