Minimum wage; establish at $15.00 and set requirements for exemptions and overtime.

HB 740 would establish Mississippi's minimum wage at $15.00 per hour for most workers, while allowing employers to pay tipped employees a base rate of $3.62 per hour (with tips making up the difference to reach $15 total). It requires overtime pay at 1.5 times the regular rate for employees earning $455 per week or less, and specifically prohibits exemptions for manual laborers, first responders, and other specified workers regardless of salary. This bill directly affects hourly workers across retail, hospitality, healthcare, and public safety sectors by raising the baseline wage and expanding overtime coverage. The legislation would replace Mississippi's current minimum wage, which is below $15, and update overtime rules to align with federal standards for covered workers.