IL HB2749

Amends Illinois Minimum Wage Law to set executive, administrative, and professional employee overtime exemption threshold at a salary greater than $47,476 per year (or weekly/monthly equivalent).

Replaces previous threshold tied to federal regulations as of March 30, 2003 with a fixed dollar amount that adjusts annually by the Consumer Price Index percentage increase.

Maintains exemptions for other employee categories including salespeople, agricultural workers, government employees, commissioned employees, and union members with alternate shift agreements.

Allows Director to adopt lower wage rate standards by regulation for executive, administrative, and professional employees of not-for-profit corporations.

Takes effect immediately upon becoming law.