Fiscal Note

SB0043 - Minimum Wage Amendments

State Impact:
Passage of this bill may require increased funding for wages for some state agencies, institutions of Higher Education, local school districts, and local governments. No reliable estimate is currently available since factors such as taxes paid, effects on state financial assistance programs, and effects on employment rates should be considered in any detailed study of this issue.

Individual and Business Impact:
Increasing the minimum wage would increase pay to some employees, increase personal services costs for some employers, and potentially increase unemployment rates for less qualified individuals.

Office of the Legislative Fiscal Analyst
1/23/2006, 11:22:27 AM