H.R. 6254 — Introduced in House

I 116th CONGRESS 2d Session H. R. 6254 IN THE HOUSE OF REPRESENTATIVES March 12, 2020Mr. McHenry (for himself, Mrs. Wagner, Mr. Barr, Mr. Stivers, and Mr. Huizenga) introduced the following bill; which 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 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. 1. Short title This Act may be cited as the Gig Economy Infrastructure Act. 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. 3. Preemption of certain provisions of State law (a) 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. (b) 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. 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.