House Bill No. by Representative Wyble proposes the enactment of Chapter 11-B of Title 23 of the Louisiana Revised Statutes, titled the "Independent Contractor Voluntary Portable Benefits Act." This legislation establishes a framework for independent contractors to create portable benefit accounts, which are not tied to any specific employer or hiring party. The bill defines key terms such as "bank," "hiring party," "portable benefit account," and "portable benefit account provider," and outlines the types of benefits that can be funded through these accounts, including health insurance, income replacement insurance, and retirement benefits.

The bill also stipulates that contributions to these portable benefit accounts can be made by any person or entity, including internet-based platforms, and may involve funds withheld from an independent contractor's compensation, provided there is a clear written agreement between the contractor and the hiring party. Importantly, contributions are voluntary and cannot be used to determine employment classification or imply employer liability under Louisiana's Workers' Compensation or Employment Security Laws. Additionally, the provisions of this chapter do not apply to the Louisiana Workers' Compensation Law.