Compensatory Time bill

Family Time Flexibility Act - Amends the Fair Labor Standards Act of 1938 (FLRA) to provide an optional program of compensatory time-off (comp-time) in lieu of overtime payments for employees (except employees of public agencies).

(Sec. 2) Allows an employer to offer, and an employee to receive, in lieu of monetary overtime compensation, comp-time at a rate not less than one and one-half hours for each hour of employment for which overtime compensation is required under the Act.

Requires, with respect to such comp-time, that employee participation be voluntary, and that collective bargaining agreements be honored.

Requires that the employee have worked at least 1,000 hours during a period of continuous employment with the employer in the 12-month period before the date of agreement or receipt of comp-time.

Limits the amount of such comp-time that can be accrued by the employee to not more than 160 hours.

Requires the employer to provide monetary compensation for any unused comp-time accrued during the preceding calendar year or other designated 12-month accounting period.

Permits employers, upon giving 30-days' notice, to provide monetary compensation for an employee's unused comp-time in excess of 80 hours.

Permits employers, upon giving 30-days' notice to their employees, to cancel the comp-time option policy for their employees, unless a collective bargaining agreement prevents this.

Allows employees to withdraw from the comp-time option program at any time and upon giving notice. Allows employees, at any time, to request in writing that monetary compensation be provided in place of their comp-time balance. Requires employers to provide such monetary compensation within 30 days of receiving such request.

Prohibits employers who provide such comp-time option from intimidating any employee to request or not request such option or to require any employee to use such comp-time.

Requires that employees, upon voluntary or involuntary termination of employment, be paid for the unused comp-time if they accrued it under such option programs.

Sets the rate of monetary compensation for accrued comp-time under this Act at not less than the employee's regular rate when the comp-time was earned or the employee's final regular rate.

Requires the employer to permit use of comp-time accrued under such an option program within a reasonable time after the employee's request if such use does not unduly disrupt the employer's operations.

(Sec. 3) Makes employers who violate this Act's prohibitions against intimidation liable to affected employees in the amount of monetary compensation (regular rate) for accrued comp-time, and an additional equal amount as liquidated damages (reduced by the amount of such compensation for each hour of comp-time used).

(Sec. 4) Directs the Secretary of Labor to revise materials for employer notices to employees explaining FLRA to reflect amendments made by this Act.

(Sec. 5) Terminates this Act five years after its enactment.