Title: Gig Economy Infrastructure Act
Policy area: Finance and Financial Sector

Summary:
Gig Economy Infrastructure Act
This bill temporarily 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. This preemption ends three years after enactment.
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.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6254 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6254

To require the Securities and Exchange Commission to extend exemptions 
  for securities offered as part of employee pay to other individuals 
 providing labor or services for remuneration, to temporarily preempt 
    certain provisions of State law with respect to wage rates and 
                   benefits, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 12, 2020

 Mr. McHenry (for himself, Mrs. Wagner, Mr. Barr, Mr. Stivers, and Mr. 
  Huizenga) introduced the following bill; which was 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

_______________________________________________________________________

                                 A BILL


 
To require the Securities and Exchange Commission to extend exemptions 
  for securities offered as part of employee pay to other individuals 
 providing labor or services for remuneration, to temporarily preempt 
    certain provisions of State law with respect to wage rates and 
                   benefits, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Gig Economy Infrastructure Act''.

SEC. 2. EXTENSION OF RULE 701.

    The exemption provided under section 230.701 of title 17, Code of 
Federal Regulations, shall apply to individuals providing labor or 
services for remuneration to an issuer (other than employees) to the 
same extent as such exemptions apply to employees of the issuer.

SEC. 3. PREEMPTION OF CERTAIN PROVISIONS OF STATE LAW.

    (a) In General.--Any provision of a State law with respect to wage 
rates or benefits that creates a presumption that an individual 
providing labor or services for remuneration for a person is an 
employee of such person under such law is preempted.
    (b) Sunset.--This section shall cease to have any force or effect 
after the end of the 3-year period beginning on the date of enactment 
of this Act.

SEC. 4. GAO STUDY.

    Not later than the end of the 1-year period beginning on the date 
of enactment of this Act, the Comptroller General of the United States 
shall carry out a study on the effects of this Act and submit a report 
on such study to the Congress.
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