Portable benefit accounts. Authorizes a Virginia resident who has worked as an independent contractor to establish a portable benefit account. Under the bill, a portable benefit account may be offered through and administered by a bank, investment management firm, technology provider, or program manager that offers services through a bank or investment management firm. Distributions from the account may be used for the payment of various health-related costs and other benefits including income replacement insurance, life insurance, or retirement benefits. Under the bill, contributions may be made using the funds of a hiring party or a percentage of funds withheld from the compensation owed to a sole proprietor or independent contractor. The bill provides that contributions using withheld funds can only be made if (i) withheld compensation is expressly agreed to in writing; (ii) such agreement is clear, unambiguous, and prominently displayed in the work contract or a separate notice; (iii) such withholdings are voluntary and require a sole proprietor or independent contractor to opt in; and (iv) a sole proprietor or independent contractor may elect to opt out of such withholdings at any time.