HR 2990 · 117th Congress · Finance and Financial Sector

Gig Worker Equity Compensation Act

Introduced 2021-05-04· Sponsored by Rep. McHenry, Patrick T. [R-NC-10]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2021-05-04)

Plain Language Summary

[AI summary unavailable — showing source text] Gig Worker Equity Compensation Act This bill preempts any state law that classifies an individual providing labor or services for remuneration (i.e., an independent contractor) as an employee for purposes of wage-rate and benefit requirements. The bill also broadens the existing Securities and Exchange Commission registration exemption for the issuance of securities as part of an employee-compensation package. Specifically, the bill applies this exemption to the issuance of securities as compensation for independent contractors. The Government Accountability Office must report on the bill's effects. …

Summarized by Claude AI · Non-partisan · For informational purposes only