SB 407 - Under current law, the minimum wage rate is set to increase by $.85 every year until it reaches $12.00 per hour in 2023. This act would increase the minimum wage rate by $1.00 every year beginning in 2024, until the minimum wage rate reaches $15.00 per hour. The minimum wage rate would thereafter be increased or decreased every year based on the increase or decrease in the Consumer Price Index. SCOTT SVAGERA