SB 122 - Equal Pay and Living Wage Act

• Establishes an annual report due by January 15 each year to assess pay practices by election district, including equal pay for comparable work and living wage sufficiency for a family of four with two children.

• Increases Alaska's minimum wage to $8.75 per hour effective January 1, 2015, $9.75 per hour effective January 1, 2016, and $15.00 per hour effective January 1, 2017.

• Requires annual inflation adjustments to minimum wage after 2017, calculated using 100 percent of the Consumer Price Index for the Anchorage metropolitan area, rounded up to the nearest one cent.

• Directs the Department of Labor and the State Commission for Human Rights to collaborate on preparing the annual report on fair pay practices.

• Takes effect July 1, 2016, with the $15.00 minimum wage applying only to contracts made on or after that date.