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.
Status:
Expired
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