The main purpose of this legislation is to update the Fair Labor Standards Act of 1938 to allow for the pooling of tips among all employees in certain work environments. This change aims to provide more flexibility for businesses, especially small ones, in how they manage tips and distribute them among staff. Key provisions of the legislation include a modification to the definition of which employees can participate in tip pooling. It replaces the existing language that limits tip pooling to employees who regularly receive tips.