MO SB531

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

Adjusts the minimum wage annually on January 1 starting in 2016 based on the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), rounded to the nearest five cents.

Raises the minimum wage threshold for tipped employees from 50 percent to 60 percent of the minimum wage, with employer required to make up the difference to reach full minimum wage.

Extends the statute of limitations for wage collection lawsuits from two years to three years and increases liquidated damages to twice the unpaid wages.

Submits the measure to Missouri voters for approval or rejection at the November 2014 general election, becoming effective only if approved by majority vote.