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Amend the bill by striking out the title and substituting the following:
‘An Act To Amend the Laws Regarding a Salaried Employee Who Is Exempt from Overtime and Minimum Wage Requirements’
Amend the bill by striking out everything after the enacting clause and before the summary and inserting the following:
‘Sec. 1. 26 MRSA §603, sub-§3, ¶E, as enacted by PL 1999, c. 750, §1, is amended to read:
 
E. A salaried employee who works in a bona fide executive capacity and whose regular compensation, when converted to an annual rate, exceeds 3000 times the State's minimum hourly wage, disregarding any increase in the minimum hourly wage after January 1, 2020 due to the cost-of-living adjustment under section 664;
Sec. 2. 26 MRSA §663, sub-§3, ¶K, as amended by PL 2009, c. 529, §2, is further amended to read:
 
K. A salaried employee who works in a bona fide executive, administrative or professional capacity and whose regular compensation, when converted to an annual rate, exceeds 3000 times the State's minimum hourly wage, disregarding any increase in the minimum hourly wage after January 1, 2020 due to the cost-of-living adjustment under section 664, or the annualized rate established by the United States Department of Labor under the federal Fair Labor Standards Act, whichever is higher; and’
 
SUMMARY
This amendment, which is the minority report, strikes and replaces the bill. It amends the description of a salaried employee in the laws governing exemptions to limits on mandatory overtime and the definition of "employee" in the laws governing exemptions to the minimum wage by eliminating any increase to the salary threshold due to the cost-of-living adjustment to the minimum wage after January 1, 2020.