Virginia's legislation raising the hourly minimum wage has cleared its final hurdle and is set to take effect on May 1, 2021. As originally passed by the General Assembly, the minimum wage law was. Jul 24, 2009 · What is the federal minimum wage? Under the Fair Labor Standards Act (FLSA), the federal minimum wage for covered nonexempt employees is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher minimum ....