VirginiaLabor and employment; portable benefit accounts, income tax, deduction.
What it does
Labor and employment; portable benefit accounts; income tax; deduction. Authorizes a Virginia resident who has worked as an independent contractor to establish a portable benefit account. Under the bill, a portable benefit account offered through and administered by a bank, credit union, or other depository institution and distributions from the account may be used for the payment of various health-related costs.
More detail
The bill also creates a temporary deduction for the amount of contributions made to a portable benefit account by an independent contractor for the 2025 and 2026 taxable years.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 5Left in Finance and AppropriationsLatest
- Jan 21Impact statement from TAX (SB1276)
- Jan 20Committee substitute printed 25105306D-S1Major
- Vote recorded Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (14-Y 0-N 1-A). Result: pass.Upper
- Jan 20Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (14-Y 0-N 1-A)Minor
- Jan 8Referred to Committee on Commerce and LaborMinor
- Jan 8Prefiled and ordered printed; Offered 01-08-2025 25102074DIntroduced