Gig Economy Infrastructure Act

House Bill 6254 - Gig Economy Infrastructure Act: Overview, Status, and Impact

Hozzl · 2022-02-09T03:56:49Z

Explore the details of House Bill 6254 Gig Economy Infrastructure Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

2/9/2022, 3:56 AM

Congressional Summary of HR 6254

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.

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Current Status of Bill HR 6254

Bill HR 6254 is currently in the status of Bill Introduced since March 12, 2020. Bill HR 6254 was introduced during Congress 116 and was introduced to the House on March 12, 2020. Bill HR 6254's most recent activity 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. as of March 12, 2020

Bipartisan Support of Bill HR 6254

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6254

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Employee benefits and pensions

- Government Accountability Office (GAO)

- Government studies and investigations

- Labor standards

- Self-employed

- Service industries

Alternate Title(s) of Bill HR 6254

Gig Economy Infrastructure Act

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.

Gig Economy Infrastructure Act