SF0041

Authorizes the creation and use of portable benefit accounts for independent contractors to fund health, insurance, and retirement benefits.

• Defines key terms including financial institution, hiring party, independent contractor, portable benefit account, and portable benefit account provider. (W.S. 27-1-117(a))
• Permits any person, including independent contractors, internet-based companies, and application-based companies, to voluntarily contribute funds to a portable benefit account for or on behalf of an independent contractor. (W.S. 27-1-117(b))
• Prohibits contributions to a portable benefit account from being used as a factor in determining employment classification. (W.S. 27-1-117(c), W.S. 27-3-104)
• Allows contributions to be made from hiring party funds or as a percentage of withheld compensation, provided the independent contractor expressly agrees in writing, the agreement is clear and prominently displayed, the contractor opts in, and the contractor may opt out at any time. (W.S. 27-1-117(d))
• Requires the Department of Workforce Services to promulgate rules necessary to implement the act. (Sec. 2)

Effective: July 1, 2026

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