Amends GS 95-25.3 concerning minimum wage rates, deleting all the substantive provisions of subsection (a), which previously set the minimum wage at $6.15 per hour. Adds language defining the following terms for use in the section: large employer and small employer. Adds new subsection (a1) that requires large employers to pay each employee at least $9 an hour beginning on January 1, 2016, and all small employers to pay each employee at least $7.75 an hour, effective January 1, 2016. Adds subsection (a2) which requires the minimum wage set above to be increased on January 1, 2017, and every January 1 thereafter, by the cost of living as measured by the percentage increase of the consumer price index calculated by the US Department of Labor. Requires the Commissioner of Labor to calculate the indexed minimum wage.