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MN HF50

MN HF50
Small business definition modified.


summary

Introduced
01/11/2021
In Committee
01/11/2021
Crossed Over
Passed
Dead
05/23/2022

Introduced Session

92nd Legislature 2021-2022

Bill Summary

A bill for an act relating to wages; modifying definition of small business; amending Minnesota Statutes 2020, section 177.24, subdivision 1.

AI Summary

This bill modifies the definition of a "small business" in Minnesota's Fair Labor Standards Act. Specifically, it increases the annual gross sales threshold to be considered a "small employer" from less than $500,000 to less than $750,000. This change means that businesses with an annual gross sales volume of between $500,000 and $750,000 will no longer be considered "small employers" and will be subject to the higher minimum wage rate for "large employers" rather than the lower minimum wage rate for "small employers."

Committee Categories

Labor and Employment

Sponsors (6)

Last Action

Author added Lucero (on 02/25/2021)

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