This amendment adjusts funding included in the introduced budget for employee compensation to provide a five percent salary increase in each year of the biennium for state employees, university faculty including adjunct faculty and graduate teaching assistants, and state supported local employees. Certain employee groups receiving a separate, targeted compensation adjustment equal to or greater than 7.5 percent in the first year will receive a 2.5 percent salary increase in the first year and a five percent salary increase in the second year. The total cost of the across the board salary adjustments is $223.1 million from the general fund in fiscal year 2023 and $523.6 million from the general fund in fiscal year 2024.