A bill to provide for the establishment of a commission to conduct a study concerning the overtime regulations of the Department of Labor.

Establishes the Commission on Overtime Regulations.

Directs the Commission to study, develop recommendations, and report by July 30, 2004, on issues relating to the modernization of the overtime provisions of the Fair Labor Standards Act of 1938 (FLSA), to promote clarity and compliance. Requires such study to include assessments of various impacts of proposed changes to regulations relating to such provisions.

Directs the Secretary of Labor to ensure that the effective date for any proposed changes to such regulations is at least 60 days after such report is submitted to the Secretary, the appropriate congressional committees, and the public.