SB1276
Labor and employment; portable benefit accounts, income tax, deduction.
Summary
As Introduced. 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 ... (More) health-related costs. 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. (Less)-
Bill History
- 01/08/2025 - Senate: Prefiled and ordered printed; Offered 01-08-2025 25102074D
- 01/08/2025 - Senate: Referred to Committee on Commerce and Labor
- 01/20/2025 - Senate: Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (14-Y 0-N 1-A)
- 01/20/2025 - Senate: Rereferred to Finance and Appropriations
- 01/20/2025 - Senate: Committee substitute printed 25105306D-S1
- 01/21/2025 - Senate: Impact statement from TAX (SB1276)
- 02/05/2025 - Senate: Left in Finance and Appropriations
