LD 513 LR 1998(02)
An Act Regarding Overtime Protections for Certain Maine Workers
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Labor and Housing
Fiscal Note Required: Yes
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund $0 $1,414,501 $2,829,001 $2,829,001
General Fund $0 $1,414,501 $2,829,001 $2,829,001
Fiscal Detail and Notes
This bill includes ongoing General Fund appropriations of $1,414,501 in fiscal year 2024-25 to the Executive Branch Departments and Independent Agencies - Statewide program within the Department of Administrative and Financial Services (DAFS) for the costs associated with increasing the annual rate that an employee who works in an executive, administrative or professional capacity must earn in order to be exempt from the laws governing the minimum wage and overtime pay from 3,000 times the State's minimum hourly wage ($42,450 in 2024) to $55,068 effective January 1, 2025.  The estimated cost provided by DAFS assumes 207 positions would become eligible for overtime pay under this law, that each employee would work one hour of overtime per workday at an overtime rate of $39.71 per hour.  The estimated cost provided by DAFS also includes $691,809 per year as a result of the increase in retirement costs.