We're small fish here but I'd imagine if we're thinking like this, larger companies must certainly be at least taking this into consideration. In effect, this is The State attempting to Price Fix around jobs-of-a-feather. No matter the intention, this is not The States business.
The only possible purpose of making laws like this is so that the state can try to enforce some remedy whereby we're told how much we have to or are allowed to pay someone. Who in their right mind wants to sign up for that kind of risk?
EDIT: When I say "one more reason" I mean specifically CA, its simply not cost effective to hire talent from there. CA taxes and cost of living are such that making a competitive offer to a candidate residing there is simply too costly from a compensation perspective. Plenty of people-talent exists in states with more favorable cost of living and tax schemes.