HB 2506: MINIMUM WAGE; INCREASE; TIPPED EMPLOYEES; DEPARTMENT OF LABOR AND INDUSTRIAL RELATIONS

Amends the minimum monthly guaranteed compensation an individual must earn to be exempt from certain wage and hour requirements.Requires the minimum wage to increase to $18.00 per hour beginning 1/1/2027, instead of 1/1/2028.Increases the minimum wage on 1/1/2028, 1/1/2029, and 1/1/2030.Prohibits tipped employees from being paid less than the minimum wage. Beginning on 9/30/2030, and on September 30 of each year thereafter, requires the Department of Labor and Industrial Relations to calculate an adjusted minimum wage rate.