Section 1 increases minimum hourly wages in the following manner:
- •For large employers (not less than $500,000 annual gross volume), from
$5.15 to $5.90 beginning July 1, 2004, increasing to $6.65 July 1, 2005;
- •For small employers (less than $500,000 in annual gross sales), from
$4.90 to $5.65 beginning July 1, 2004, increasing to $6.40 July 1, 2005;
and
- •On July 1, 2006, and annually thereafter, by the percentage increase of the
Minneapolis-St. Paul consumer price index for the previous calendar
year, rounded up to the nearest cent.
Section 2 provides a July 1, 2004, effective date.
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