HB1160 - Independent contractors; establishes portable benefit accounts and nonrefundable tax credit.
Virginia - 2024 Regular Session
Introduced byPhillip A. Scott, Ian T. Lovejoy, Eric R. Zehr
Last updated 9 months ago
3 Co-Sponsors
Portable benefit accounts; tax credit. 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. The bill establishes a nonrefundable tax credit for taxable years 2024 through 2028 for individuals who contribute to a portable benefit account.
STATUS
Introduced
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