MO HB314

Increases Missouri's minimum wage from $6.50 to $8.50 per hour effective January 1, 2016, and to $9.50 per hour effective January 1, 2017

Requires annual cost-of-living adjustments to the minimum wage beginning January 1, 2018, based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)

Raises the small business exemption threshold from $500,000 to $575,000 in annual gross sales, with annual cost-of-living adjustments starting January 1, 2018

Increases liquidated damages for minimum wage violations from equal to the underpaid wages to twice the underpaid wages

Extends the statute of limitations for wage deficiency claims from two years to three years