A bill to amend the Fair Labor Standards Act of 1938 to provide an exemption from the minimum wage and overtime requirements of that Act for employees of State and local public agencies, and for other purposes.

Amends the Fair Labor Standards Act of 1938 to exempt from overtime and minimum wage coverage under such Act, State, local, or interstate public agency employees.

Provides that no State, local, or interstate public agency shall be liable under penalty provisions of such Act for violations of minimum wage or overtime requirements occurring before the date of enactment of this Act with respect to any employee of such public agencies.