Increases the state minimum wage by $1.25 per year from 2026 through 2029 when it would reach twenty dollars ($20.00) per hour and then provides for subsequent annual adjustments based on the Consumer Price Index.
Commencing 1/1/25, gradually increases the minimum wage for employees receiving gratuities from the current ($3.89) to ($14.95) by 1/1/29 and on 1/1/30 the minimum wage shall be no less than the minimum wage established by the minimum wage law.