The proposed bill establishes the Voluntary Portable Benefits Act, which creates a framework for independent contractors and sole proprietors to have portable benefits accounts. This new part of chapter 448 of the Florida Statutes includes definitions and provisions for voluntary contributions to these accounts. Specifically, it allows various parties, including hiring entities and independent contractors themselves, to contribute to these accounts without affecting the employment classification of the workers. The bill outlines the criteria for what constitutes an independent contractor and specifies the types of benefit plans that can be funded through these accounts, such as health insurance and retirement benefits.

Additionally, the bill stipulates that contributions to portable benefits accounts cannot be used to determine a worker's employment status. It details the conditions under which contributions can be made, including the requirement for voluntary agreement and the ability for independent contractors or sole proprietors to opt out of any withholdings. The act is set to take effect on July 1, 2025, providing a structured approach to enhance the benefits available to independent workers in Florida.