Consistent with the requirements of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), overtime pay and compensatory time off for employees of the legislative branch, including employees of the lieutenant governor, are determined:
(1) for employees of the house of representatives or the senate, by the presiding officer of the appropriate house of the legislature;
(2) for employees of an elected officeholder, by the employing officeholder; and
(3) for employees of a legislative agency, by the administrative head of the agency.