,,ib ,union ,cal5d> ,no4 #gfe #aai?     
,,congress  #b;d ,session  ,h4 ,r4 #hffj
 ,report ,no4 #aai-hfh ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,may #d1 #bjbf,mr4
 ,mack5zie introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,education &
 ,work=ce  ,novemb] #b1                 
#bjbf;,additional sponsor3 ,mr4 ,ond]   
,novemb] #b1 #bjbf,report$ ) an am5dm5t1
 committ$ to ! ,committee ( ! ,:ole     
,h\se on ! ,/ate ( ! ,union1 & ord]$ to 
be printed,strike out all aft] ! enact+ 
clause & ins]t ! "p pr9t$ 9 italic,for  
text ( introduc$ bill1 see copy ( bill z
 introduc$ on ,may #d1 #bjbf  ,a ,,bill 
,to am5d ! ,fair ,labor ,/&>ds ,act (   
#aich to protect work] access to employ]
 equity1 & = o!r purposes4  #a4 ,%ort   
title ,?is ,act may be cit$ z ! ,valu+  
,employee ,/ock ,today ,act or ! ,,ve/  
,act4  #b4 ,f9d+s ,congress f9ds !      
foll[+3 7#a7 ,! ,work] ,economic        
,opportunity ,act ( #bjjj 7,public ,law 
#ajf-bjb7 am5d$ section #g7;e7 ( ! ,fair
 ,labor ,/&>ds ,act ( #aich 7#bi        

,u4,s4,c4 #bjg7;e77 by add+ a new       
p>agraph 7#h7 to su* section #g7;e7 to  
exempt any value or income d]iv$ f      
employ]-provid$ grants or rights provid$
 pursuant to a /ock option1 /ock        
appreciation "r1 or bona fide employee  
/ock pur*ase program f ! det]m9ation (  
an employee's regul> rate = purposes (  
calculat+ su* employee's ov]time        
comp5sation4  7#b7 ,! lack ( explicit   
m5tion ( re/rict$ /ock units 9 p>agraph 
7#h7 ( section #g7;e7 ( ! ,fair ,labor  
,/&>ds ,act ( #aich 7#bi ,u4,s4,c4      
#bjg7;e771 z add$ by ! ,work] ,economic 
,opportunity ,act ( #bjjj 7,public ,law 
#ajf-bjb71 0 n an int5tional exclusion f
 su* p>agraph 7#h71 b a reflection t ?is
 type ( equity aw>d 0 n commonly us$ z (
 ! date ( enactm5t ( ! ,work] ,economic 
,opportunity ,act ( #bjjj 7,public ,law 
#ajf-bjb74  7#c7 ,congress cle>ly       
e/abli%$ 9 ! ,jo9t ,/atem5t (           
,legislative ,int5t accompany+ ! ,work] 
,economic ,opportunity ,act ( #bjjj     
7,public ,law #ajf-bjb7 t su* ,act 0    

design$ to be broad & flexible en\gh to 
accommodate a wide v>iety ( employee    
equity programs & to be flexible &      
=w>d-look+ & int]pret$ consi/5t ) its   
purpose to enc\rage employ]s to provide 
opportunities = equity p>ticipation to  
employees4  7#d7 ,9 ! ye>s s9ce #bjjj1  
re/rict$ /ock units h become a highly   
common =m ( equity = bo? sal>i$ & h\rly 
employees t1 consi/5t ) ! ,jo9t ,/atem5t
 ( ,legislative ,int5t accompany+ !     
,work] ,economic ,opportunity ,act (    
#bjjj 7,public ,law #ajf-bjb71 all[     
employees to %>e 9 ! future success ( _!
 companies ?r\gh a me*anism t may n     
o!rwise be available to rank-&-file     
work]s4  7#e7 ,re/rict$ /ock units %\ld 
qualify = ! exemption f regul> rate     
det]m9ations "u p>agraph 7#h7 ( section 
#g7;e7 ( ! ,fair ,labor ,/&>ds ,act (   
#aich 7#bi ,u4,s4,c4 #bjg7;e77#h77      
because su* p>agraph w\ld h explicitly  
m5tion$ re/rict$ /ock units z qualify+ =
 su* exemption _h re/rict$ /ock units   
be5 a common =m ( employ]-provid$ equity

 comp5sation z ( ! date ( enactm5t ( !  
,work] ,economic ,opportunity ,act (    
#bjjj 7,public ,law #ajf-bjb74  #c4     
,cl>ification ( ! employ] equity        
exemption f regul> rate det]m9ations    
7a7 ,cl>ification ,section #g7;e77#h7 ( 
! ,fair ,labor ,/&>ds ,act ( #aich 7#bi 
,u4,s4,c4 #bjg7;e77#h77 is am5d$-- 7#a7 
9 ! matt] prec$+ subp>agraph 7,a71 by   
/rik+ or bona fide employee /ock pur*ase
 program & ins]t+ bona fide employee    
/ock pur*ase program1 or re/rict$ /ock  
unit program2 &  7#b7 9 subp>agraph     
7,c71 by /rik+ ex]cise & ins]t+ ex]cise 
or acceptance4  7b7 ,effective date2    
,liability ( employ]s  7#a7 ,effective  
date ,! am5dm5ts made by ?is section    
%all take effect on ! date t is #ij days
 aft] ! date ( enactm5t ( ?is ,act4     
7#b7 ,liability ( employ]s ,no employ]  
%all be liable "u ! ,fair ,labor ,/&>ds 
,act ( #aich 7#bi ,u4,s4,c4 #bja et     
seq471 z am5d$ by subsection 7a71 = any 
failure to include 9 an employee's      
regul> rate 7z def9$ = purposes ( su*   

,act7 any income or value d]iv$ f       
employ]-provid$ grants or rights obta9$ 
pursuant to any re/rict$ /ock unit      
program if-- 7,a7 ! grants or rights 7  
obta9$ be=e ! effective date describ$ 9 
p>agraph 7#a72  7,b7 ! grants or rights 
7 obta9$ )9 ! #ab-mon? p]iod beg9n+ on !
 effective date describ$ 9 p>agraph     
7#a71 s long z su* program 0 9 exi/5ce  
on ! date ( enactm5t ( ?is ,act & w     
require %>ehold] approval to modify su* 
program to comply ) section #g7;e77#h7 (
 ! ,fair ,labor ,/&>ds ,act ( #aich 7#bi
 ,u4,s4,c4 #bjg7;e77#h771 z am5d$ by    
subsection 7a72 or  7,c7 su* program is 
provid$ "u a collective b>ga9+ agreem5t 
t is 9 effect on ! effective date       
describ$ 9 p>agraph 7#a74  ,novemb] #b1 
#bjbf,report$ ) an am5dm5t1 committ$ to 
! ,committee ( ! ,:ole ,h\se on ! ,/ate 
( ! ,union1 & ord]$ to be pr9t$