Long Term Minimum Wage Adjustment Act of 1999

Long Term Minimum Wage Adjustment Act of 1999 - Amends the Fair Labor Standards Act of 1938 to increase the Federal minimum wage (currently $5.15 per hour) to: (1) $5.55 an hour during the year beginning on September 1, 1999; (2) $5.85 an hour during the year beginning on September 1, 2000; and (3) $6.15 an hour during the year beginning on September 1, 2001.

Increases the minimum wage rate, by indexing to the Consumer Price Index for all urban consumers, beginning on September 1, 2002, and each September 1 thereafter. Prohibits: (1) such increases from exceeding four percent in any one calendar year; and (2) the minimum wage from falling below the previous year's level.