Bill > HR2990

This bill, the Gig Worker Equity Compensation Act, aims to extend the exemption for securities offered as part of employee pay to other individuals providing goods, labor, or services for remuneration, such as gig workers. It also preempts certain state laws regarding wage rates and benefits that presume such individuals are employees of the company they work for. The bill requires the Securities and Exchange Commission to revise its regulations to reflect these changes and prohibits any future revisions that would restrict access to equity compensation for employees or individuals covered by the bill. Finally, the bill mandates a Government Accountability Office study on the effects of the Act within three years of its enactment.