Bill > HB138

This bill amends existing New Mexico law to gradually increase the state's minimum wage and adjust it annually for the cost of living. Starting January 1, 2016, the minimum wage will rise to $8.40 per hour, then to $9.20 per hour on January 1, 2017, and finally to $10.10 per hour on January 1, 2018. After 2018, the minimum wage will be increased each year based on the percentage change in the consumer price index for all urban consumers, with the increase rounded to the nearest five cents and capped at a 4% rise annually; the minimum wage will not decrease due to cost of living adjustments. For tipped employees, the minimum hourly wage will be 40% of the standard minimum wage, with tips combined with this cash wage needing to meet the full minimum wage. The bill also specifies an effective date of July 1, 2015, for these changes.