This bill proposes an increase in the state minimum hourly wage rate. It amends the existing law to establish a minimum hourly rate that is higher than the federal minimum wage, if applicable. Specifically, the bill sets the state minimum hourly rate at $13 per hour from September 1, 2023, to June 30, 2024, and then increases it to $15 per hour from July 1, 2024, onward. The bill also includes provisions for tipped employees, such as those in restaurants and cigar bars, ensuring they receive a base rate from the employer of not less than 45 percent of the applicable minimum wage. If tipped employees' total earnings do not equal $15 per hour for all hours worked, the employer is required to pay the difference to guarantee the $15 per hour rate.

The bill contains a contingency clause stating that the new minimum hourly rate provisions will take effect on the date the federal minimum wage is increased to $15 per hour or when the state of New Hampshire increases its minimum wage to $15 per hour, whichever occurs first. The effective date for the remainder of the act is set for September 1, 2023. The bill also includes the deletion of references to "the minimum wage" and their replacement with "$15 per hour" to reflect the new minimum wage standard being established.