MO HB2055

Increases Missouri's minimum wage from $6.50 to $10.00 per hour, effective January 1, 2015, or the federal minimum wage if higher.

Implements annual cost-of-living adjustments to the minimum wage on January 1 each year, calculated using the Consumer Price Index for Urban Wage Earners and Clerical Workers, rounded to the nearest five cents.

Raises the minimum wage requirement for tipped employees from 50 percent to 60 percent of the minimum wage, with employers required to ensure total compensation meets the full minimum wage.

Increases the statute of limitations for wage theft claims from two years to three years and changes liquidated damages from an equal amount to twice the unpaid wages.

Requires voter approval through a referendum election on November 4, 2014, with the act taking effect only if approved by a majority of votes cast.