today you have a presentation by ted eagan, the office of economic analysis and chief economist. and in your packet is a printed out -- is the printed out version of what is on the controller's website. >> thank you, ted. welcome. which one would you like? >> thank you very much, and good afternoon, commissioners. ted eagan with the controller's office of economic analysis. on july 17th our office issued an he can no, ma'am ~ impact report on the legislation introduced by supervisor kim in june. and i will walk through that report and happy to take any questions you have at any time. feel free to interrupt me. the minimum wage legislation requires all employers to pay employees a certain amount per hour. currently that minimum wage is 10.74 an hour indexed to inflation. the legislation that we analyzed would raise the minimum wage incrementally to $15 an hour by july 1st, 2018. beginning july 1st, 2019, the minimum wage would then be indexed to inflation and annually rise in line with cpi. this is showing the increments that i allude to. the first increment -- i should say that th