House Bill No. by Representative Wyble proposes the creation of the Independent Contractor Voluntary Portable Benefits Act, which establishes a framework for independent contractors in Louisiana to access portable benefit accounts. This new chapter, designated as Chapter 11-B of Title 23 of the Louisiana Revised Statutes, includes definitions for key terms such as "bank," "hiring party," "portable benefit account," and "portable benefit account provider." The Act allows various entities, including internet-based platforms, to contribute funds to these accounts, which are intended to help independent contractors purchase benefits like health insurance, income replacement, and retirement plans.

The bill outlines specific conditions under which contributions can be made to a portable benefit account, emphasizing that such contributions must be voluntary and agreed upon in writing by both the independent contractor and the hiring party. It also stipulates that contributions should not be used to determine employment classification or imply employer liability under Louisiana's Workers' Compensation Law or Employment Security Law. Overall, the legislation aims to enhance the financial security of independent contractors by providing them with access to portable benefits while ensuring that their employment status remains unaffected by these contributions.