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Easier Equity Compensation for Gig Workers

This act aims to make it easier for companies to offer company shares as a form of payment to individuals providing services, such as drivers or delivery personnel, who are not traditional employees. These changes could impact how gig economy workers are compensated, providing more options for companies and potentially new earning opportunities for workers. The act also prevents states from automatically classifying these individuals as employees for wage and benefit purposes.
Key points
Companies can more easily offer company shares as compensation to individuals working on digital platforms (e.g., drivers, delivery personnel).
Rules for equity compensation for traditional employees will be extended to individuals providing services for companies or their customers.
The act prevents states from automatically classifying service providers as employees for wage and benefit purposes.
The value of equity compensation will be adjusted annually for inflation.
A study on the effects of this act on the labor market will be conducted within three years.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_2990
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2021-05-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Gig Worker Equity Compensation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2990.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-04.

What are the main provisions?

Key points include:

  • Companies can more easily offer company shares as compensation to individuals working on digital platforms (e.g., drivers, delivery personnel).
  • Rules for equity compensation for traditional employees will be extended to individuals providing services for companies or their customers.
  • The act prevents states from automatically classifying service providers as employees for wage and benefit purposes.
  • The value of equity compensation will be adjusted annually for inflation.
  • A study on the effects of this act on the labor market will be conducted within three years.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Labor Economy