Modifies provisions relating to employee compensation

This bill sets Missouri's minimum wage at $13.75 per hour starting January 1, 2025, increasing to $15.00 per hour on January 1, 2026. It requires annual adjustments based on the cost-of-living index (CPI-W) to maintain wage growth aligned with inflation. The state minimum wage must always exceed the federal minimum wage, with the higher rate automatically applying if federal rates rise above state levels. This applies to most private-sector workers in Missouri, excluding specific exempt categories like certain agricultural workers, government employees, and seasonal staff as defined in the law.