(1) In promulgating rules under s. 103.02 classifying periods of time into periods to be paid for at regular rates and periods to be paid for at the rate of at least one and one-half times the regular rates, the department shall exempt from the application of those rules an individual who has entered into a contract to play baseball at the minor league level and who is compensated pursuant to the terms of a collective bargaining agreement that expressly provides for wages and working conditions.
(2) The department shall also exempt an individual described in sub.
(1) from the application of rules promulgated under s. 103.02 or 104.09 that require employers to keep records of the hours of employment and wages of employees.