NY S03062

Establishes new minimum wage schedules for New York City large employers ($17.00 on January 1, 2023; $18.80 on January 1, 2024; $20.45 on January 1, 2025), small employers ($17.00 on January 1, 2023; $18.80 on January 1, 2024; $20.45 on January 1, 2025), and other regions of the state with corresponding increases through 2025.

Implements automatic annual minimum wage increases beginning January 1, 2026, based on the sum of inflation (measured by CPI-W change from third quarter to third quarter) and labor productivity growth (measured by national labor productivity output per hour), rounded to the nearest five cents.

Requires the Commissioner of Labor to publish updated minimum wage rates by November 1st each year prior to the January 1st implementation date.

Repeals subdivision 6 of section 652 of the labor law, which previously limited upstate minimum wage increases to a cap of $15 per hour.