Mississippi legislation · 2026 Regular Session
Mississippi HB1072: Voluntary Portable Benefit Plan Act; create for contributions by hiring parties to independent contractors' portable benefit accounts.
Status: Failed, March 3, 2026
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.
What the bill says
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…
From the engrossed text:
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. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Sections 1 through 4 of this act shall be known and may be cited as the "Voluntary Portable Benefit Plan Act." SECTION 2. As used in Sections 1 through 4 of this act, the following words and phrases have the meanings provided in this section, unless the context clearly indicates otherwise: (a) "Bank" means a state bank, national bank, out-of-state state-chartered bank or a foreign bank organized under the laws of a territory of the United States, the Commonwealth of Puerto Rico, Guam, American Samoa, or the United *HR43/R1424* H. B. …