Relating to: delivery network couriers and transportation network drivers, Department of Financial Institutions’ approval to offer portable benefit accounts, providing for insurance coverage, modifying administrative rules related to accident and sickness insurance, and granting rule-making authority. (FE)

SB 256 creates state-approved "portable benefit accounts" for app-based delivery and rideshare drivers (defined as "application-based drivers" earning at least $750 quarterly from one company). It allows drivers to deduct contributions to these accounts from state taxable income while imposing a 10% penalty on distributions used for non-permissible purposes (like non-health expenses). The bill modifies tax code sections to treat these accounts similarly to tax-advantaged savings vehicles and requires Department of Financial Institutions approval for their structure. This directly affects gig workers in delivery and rideshare services who meet the earnings threshold.