Bill > HB360

This bill proposes to increase the minimum wage in New Mexico through a series of scheduled raises and annual adjustments based on the cost of living. Specifically, it mandates that the minimum wage will rise to $10.00 per hour on January 1, 2016, $12.50 per hour on January 1, 2017, and $15.00 per hour on January 1, 2018. Following these set increases, starting January 1, 2019, and each year thereafter, the minimum wage will be increased by a percentage equal to the prior year's cost of living increase, as measured by the Consumer Price Index (CPI) for all urban consumers, with the final amount rounded to the nearest five cents. The bill also clarifies that the minimum wage will not decrease if the cost of living falls and will not increase by more than four percent in any single year due to cost of living adjustments. Existing provisions regarding deductions for food, utilities, supplies, or housing for agricultural workers and overtime pay remain in place, with the bill also removing a previous provision related to tipped employees and their minimum wage.