[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5151 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 5151

    To amend the Fair Labor Standards Act of 1938 to provide for an 
 exemption from the overtime provisions for professional employees of 
 contractors or subcontractors of the Resolution Trust Corporation who 
                      are paid on a hourly basis.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 30, 1994

  Mr. Pastor introduced the following bill; which was referred to the 
                    Committee on Education and Labor

_______________________________________________________________________

                                 A BILL


 
    To amend the Fair Labor Standards Act of 1938 to provide for an 
 exemption from the overtime provisions for professional employees of 
 contractors or subcontractors of the Resolution Trust Corporation who 
                      are paid on a hourly basis.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXEMPTION FROM OVERTIME PROVISIONS FOR PROFESSIONAL 
              EMPLOYEES OF CONTRACTORS OR SUBCONTRACTORS OF THE 
              RESOLUTION TRUST CORPORATION.

    Section 13(b) of the Fair Labor Standards Act of 1938 (29 U.S.C. 
213(b)) is amended by striking the period at the end of paragraph (28) 
and inserting in lieu thereof ``; or'' and by inserting the following 
new paragraph at the end thereof:
            ``(29) any employee of a contractor or subcontractor of the 
        Resolution Trust Corporation who is paid on an hourly basis but 
        is otherwise employed in a professional capacity under the 
        regulations of the Secretary.''.

SEC. 2. APPLICABILITY.

    The amendments made by this Act shall apply to any cause of action 
arising before, on, or after the date of the enactment of this Act.
                                 <all>