House Bill No. [insert bill number] enacts Chapter 11-B of Title 23 of the Louisiana Revised Statutes, titled the "Independent Contractor Voluntary Portable Benefits Act." This new chapter 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," outlining the roles and responsibilities of each party involved in the contributions to these accounts.

The legislation allows any person or entity, including internet- or application-based entities, to contribute funds to these portable benefit accounts. Contributions can be made from the hiring party's funds or a percentage of compensation withheld from the independent contractor, provided there is a clear written agreement between both parties. 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. The provisions of this chapter explicitly do not apply to the Louisiana Workers' Compensation Law.