The bill allows private employees to receive compensatory time off at a rate of one and a half hours for each overtime hour worked, instead of monetary compensation, for a 5-year period. Employers violating this provision will be liable to the affected employee for compensation and liquidated damages. The Act also mandates the Secretary of Labor to update materials explaining the Fair Labor Standards Act for employees and requires the Comptroller General to submit annual reports to Congress on employers' provision of compensatory time, employee complaints, enforcement actions, and related outcomes.