Nearly 200 new laws on Jan. 1, 2023 are set to go into effect in Illinois, with several of them potentially having an impact on your wallet. One of those such laws is a rise in the state's minimum wage.
Starting Jan. 1, 2023, minimum wage in the state will rise from $12 an hour to $13 an hour.
For workers who regularly earn tips, the rate will increase to $7.80, however, the state says "these workers must still earn the minimum wage after receiving tips, or the employer is required to make up the difference."
Workers under 18 who work fewer than 650 hours a year will also earn a minimum wage of $10.50 per hour beginning Jan. 1.
The minimum wage increase is part of an annual rise set to continue through 2025.
In 2019, Illinois Gov. J.B. Pritzker signed legislation into law providing a years-long path to increase Illinois' minimum wage rate to $15 per hour and $9 for tipped workers.
Since that legislation was signed, there have been four increases in the minimum wage, with the fifth just days away.
During 2020, most residents saw two minimum wage increases -- first to $9.25 in January, then to $10 in July.
On Jan. 1, 2021, the minimum raised increased yet again -- to $11 per hour.
And on Jan. 1, 2022, the state's minimum wage went up to what it is currently: $12 an hour.
The rate will continue to increase on Jan. 1 each year until it hits $15 per hour on Jan. 1, 2025.
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