The proposed bill establishes the Voluntary Portable Benefits Act, which creates a framework for portable benefits accounts specifically for independent contractors and sole proprietors in Florida. It introduces new sections within Chapter 448 of the Florida Statutes, including definitions for key terms such as "independent contractor," "portable benefits account," and "hiring party." The bill allows various parties, including hiring entities and independent contractors themselves, to make voluntary contributions to these accounts, which can be used to fund benefit plans like health insurance and retirement benefits.

Additionally, the bill stipulates that contributions to these portable benefits accounts cannot be used to determine a worker's employment classification, ensuring that such contributions do not affect the independent contractor status. The act outlines the conditions under which contributions can be made, including the requirement for voluntary agreement and the option for contractors to opt out of withholdings. The bill is set to take effect on July 1, 2025.