Idaho H0645 establishes the Portable Benefit Plan Act, allowing contributions to portable benefit accounts for independent contractors.

Idaho H0645 adds a new chapter to the Idaho Code, establishing the Portable Benefit Plan Act. This act allows any person or entity to contribute funds to a portable benefit account for an independent contractor. Contributions can be made using the hiring party's funds or a percentage of funds withheld from the contractor's compensation, provided certain conditions are met. The act defines terms such as "portable benefit account" and "portable benefit plan," and outlines tax implications for contributions. The act declares an emergency and takes effect on July 1, 2026.

Idaho H0645 establishes the Portable Benefit Plan Act, allowing contributions to portable benefit accounts for independent contractors.

Idaho H0645 adds a new chapter to the Idaho Code, establishing the Portable Benefit Plan Act. This act allows any person or entity to contribute funds to a portable benefit account for an independent contractor. Contributions can be made using the hiring party's funds or a percentage of funds withheld from the contractor's compensation, provided certain conditions are met. The act defines terms such as "portable benefit account" and "portable benefit plan," and outlines tax implications for contributions. The act declares an emergency and takes effect on July 1, 2026.