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New Compensation Rules for Gig Workers and Independent Contractors

This act aims to make it easier for gig workers and independent contractors to receive company stock as compensation, similar to traditional employees. This could change how individuals providing services, like drivers or delivery personnel, are paid, giving them a chance to own a part of the company. The act also limits states from automatically classifying these individuals as employees based on wage rates.
Key points
Gig workers and independent contractors can receive company stock as compensation, similar to regular employees.
Rules for stock compensation will be adjusted annually for inflation.
The act limits states from automatically classifying service providers as employees based on wage and benefit laws.
A study on the effects of this act will be conducted within three years.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2612
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2023-04-13
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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 118_HR_2612.

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 2023-04-13.

What are the main provisions?

Key points include:

  • Gig workers and independent contractors can receive company stock as compensation, similar to regular employees.
  • Rules for stock compensation will be adjusted annually for inflation.
  • The act limits states from automatically classifying service providers as employees based on wage and benefit laws.
  • A study on the effects of this act 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 2025-12-25.

CATEGORIES

Labor Economy