Relating to minimum wage.

SB 766 caps annual minimum wage adjustments for inflation at 5% in Oregon. Starting in 2023, the state’s minimum wage will increase each July based on the previous March’s U.S. inflation rate, but the increase will be limited to the smaller of 5% or the actual inflation rate. This affects all Oregon employers, including those in urban areas (which have higher rates) and nonurban counties (which have lower rates), through future annual adjustments. The bill ensures minimum wage rates can only rise, never fall, due to inflation adjustments.