LD 543 LR 988(01)
An Act To Provide That the Minimum Wage Increases by the Cost of Living Every 3 Years
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Bradstreet of Vassalboro
Committee: Labor and Housing
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Potential current biennium savings - All funds
Fiscal Detail and Notes
This bill changes the annual cost-of-living increase in the minimum hourly wage from once per year to once every 3 years.  This slowing of minimum wage increases may result in savings to the State and municipalities beginning in fiscal year 2021-22, depending on the wages that would be paid without this proposed change.
Additional costs to the Bureau of Labor Standards within the Department of Labor to implement the requirements of this legislation can be absorbed within existing budgeted resources.