This bill amends the Minimum Wage Act of 1968 to update definitions, minimum wage rates, and exemptions. Notably, it introduces new minimum wage rates, including an increase to $11 per hour starting January 1, 2027, $13 per hour beginning January 1, 2028, and $15 per hour starting January 1, 2029. Additionally, beginning January 1, 2030, the minimum wage will be adjusted annually based on the Consumer Price Index for the region. The bill also clarifies the definition of "wages" to include the reasonable cost of board, lodging, or other facilities provided by employers, while ensuring that these costs are not counted towards wages if excluded by a collective bargaining agreement.

Furthermore, the bill modifies the provisions regarding training wages for employees under the age of twenty, allowing employers to pay a training wage for the first sixty days of employment, while ensuring that employees are informed of their rights to the full minimum wage after the training period. The previous exemption for small employers with ten or fewer full-time employees has been removed, requiring them to comply with the updated minimum wage provisions. The act will take effect 60 days after its passage.