Section 1 Short title
This Act may be cited as the “Gig Economy Infrastructure Act”.
Gig Economy Infrastructure Act
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.
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
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.
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.