Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas SB235: TO CREATE THE VOLUNTARY PORTABLE BENEFIT ACCOUNT ACT
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to create the voluntary portable benefit account act; and for other purposes. subtitle to create the voluntary portable benefit account act.
From the introduced text:
An Act To Be Entitled AN ACT TO CREATE THE VOLUNTARY PORTABLE BENEFIT ACCOUNT ACT; AND FOR OTHER PURPOSES. Subtitle TO CREATE THE VOLUNTARY PORTABLE BENEFIT ACCOUNT ACT. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code Title 11, Chapter 4, is amended to add an additional subchapter to read as follows: Subchapter 7 -- Voluntary Portable Benefit Account Act 11-4-701. Title. This subchapter shall be known and may be cited as the "Voluntary Portable Benefit Account Act". 11-4-702. Definitions. As used in this subchapter: (1)(A) "Bank" means a state bank or a national bank or an outof-state state-chartered bank that has received a certificate of authority under § 23-48-1001. (B) "Bank" shall also include any foreign bank organized under the laws of a territory of the United States, the Commonwealth of Puerto Rico, Guam, American Samoa, or the United States Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation; *ANS091* 02/14/2025 9:47:30 AM ANS091 SB235 (2) "Hiring party" means a person who hires or enters into a contract with an independent contractor; (3)(A) "Voluntary portable benefit account" means an account that is: (i) Opened by an independent contractor to fund the purchase of one (1) or more benefit plans; (ii) Administered by a voluntary portable benefit account …
Sponsors
- Justin Boyd (R, 27) · primary sponsor
- Robin Lundstrum (R, 18)
Latest actions
- : Sine Die adjournment
- : Recommended for study in the Interim Committee on PUBLIC HEALTH, WELFARE AND LABOR COMMITTEE - SENATE
- : Withdrawn from Committee and placed on calendar.
- : Read first time, rules suspended, read second time, referred to PUBLIC HEALTH, WELFARE AND LABOR COMMITTEE - SENATE
- : Filed
Common questions
- What is SB235?
- SB235 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO CREATE THE VOLUNTARY PORTABLE BENEFIT ACCOUNT ACT.
- What does SB235 do?
- In its own words: An act to be entitled an act to create the voluntary portable benefit account act; and for other purposes. subtitle to create the voluntary portable benefit account act.
- What is the status of SB235?
- Failed as of May 5, 2025. Latest action: Sine Die adjournment (May 5, 2025).
- Who sponsored SB235?
- Justin Boyd (R, 27), with 1 co-sponsor.
- Where is the official record for SB235?
- On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=SB235
Source: official Arkansas record. Tracked by Delilah, AI for legislation across all 50 states and Congress.