Labor and employment; portable benefit accounts, income tax, deduction.

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. 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.