Amends TCA Title 50 and Title 65, Chapter 15, Part 3.
Tennessee HB0494 introduces the "Voluntary Portable Benefit Plan Act," allowing public and private entities, including internet-based companies, to voluntarily contribute to portable benefit accounts for independent contractors. The bill stipulates that contributions can be made from hiring party funds or withheld compensation, provided there is a clear written agreement and the contractor opts in. Additionally, it clarifies that such contributions cannot be used to determine employment classification and removes the requirement that marketplace platforms provide no insurance benefits to contractors.
Tennessee HB0494 introduces the "Voluntary Portable Benefit Plan Act," allowing public and private entities, including internet-based companies, to voluntarily contribute to portable benefit accounts for independent contractors. The bill stipulates that contributions can be made from hiring party funds or withheld compensation, provided there is a clear written agreement and the contractor opts in. Additionally, it clarifies that such contributions cannot be used to determine employment classification and removes the requirement that marketplace platforms provide no insurance benefits to contractors.
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