Gig Worker Equity Compensation Act

This bill extends access to equity compensation (like stock options) for gig workers - individuals providing services through platforms - who are currently classified as independent contractors, not employees. It modifies a Securities and Exchange Commission (SEC) rule to apply equally to these workers and traditional employees, requiring the SEC to adjust the compensation threshold annually for inflation. The bill also preempts state laws that assume gig workers are employees, overriding such rules regarding wage or benefit classifications. A study by the Government Accountability Office (GAO) will assess the bill’s effects within three years of enactment. The policy directly affects gig workers, platform companies, and state labor regulations.