Fair Minimum Wage Act.

HB 1059 establishes a new state minimum wage of $15.00 per hour in North Carolina, which will automatically increase each year based on inflation starting in 2027. The bill creates the North Carolina Wage Board to review wage competitiveness and allows local governments to set their own higher minimum wages if they choose. It also introduces a short-time compensation program to help businesses manage layoffs during economic downturns and sets a lower minimum wage of $11.00 for small businesses with annual revenue under $400,000. Additionally, the legislation maintains existing provisions for subminimum wages for students, individuals with disabilities, and seasonal food service workers while clarifying rules around tip credits and pooling.