As a reminder, the current minimum wage for the State of New Mexico is $12.00 effective January 1, 2023. In addition, as of January 4, 2022, there were already sixteen pre-filed bills, at the New Mexico Legislature, two of which are related to minimum wage. House bill (HB) 28, State Minimum Wage Cost-of-Living Increase, provides for an annual cost of living increase based on the prior years’ consumer price index (CPI) beginning July 1, 2023 and provides that certain tipped employees will be paid at 25% of the prevailing wage. Tips plus wages may be combined as long as the rate is not less than the minimum wage. House bill (HB) 25, Minimum Wage Increase and Indexing, provides for an increase in the minimum wage to $16.00 per hour beginning January 1, 2024, and additional annual increases based on CPI.
Southwestern HR Consulting (SWHRC) will be monitoring Human Resources (HR) bills as introduced and through the legislative session. If you want to ensure HR compliance in your organization, contact SWHRC today!
Written by | Magdalena Vigil-Tullar
HR Consultant | MBA, SPHR, SHRM-SCP, CLRP
Phone: 505-270-7494 | Email: email@example.com