CT SB00831

Repeals and replaces Section 31-76i of Connecticut General Statutes, effective October 1, 2021, to establish exemptions from wage and hour provisions in sections 31-76b to 31-76j.

Adds commercial mortgage loan originators who are highly compensated employees, as defined in 29 CFR 541.601, to the list of exempt employee categories.

Defines "commercial mortgage loan originator" as an individual who accepts applications or negotiates terms for commercial mortgage loans in exchange for compensation.

Defines "commercial mortgage loan" as a mortgage loan not primarily for personal, family, or household use.

Requires annual adjustments to compensation thresholds for highly compensated employee exemptions beginning October 1, 2012, based on percentage increases in average workers' weekly earnings as determined by the Labor Commissioner.