Bill > HR8280

This bill, the Gig Worker Equity Compensation Act, has several key provisions: 1. It extends the existing Securities and Exchange Commission (SEC) exemption for issuing securities as part of employee compensation to also cover individuals providing goods, labor, or services for remuneration (i.e., independent contractors). 2. It requires the SEC to annually adjust the dollar figure threshold for this exemption to account for inflation. 3. It preempts any state law that classifies an individual providing labor or services for remuneration (an independent contractor) as an employee for the purposes of wage-rate and benefit requirements. 4. It directs the Government Accountability Office (GAO) to conduct a study on the effects of the bill and report to Congress within 3 years of its enactment. Overall, the bill aims to extend equity compensation opportunities to gig workers and independent contractors, while also preventing states from classifying them as employees for certain employment-related requirements.