The main purpose of this legislation is to change how overtime pay is treated for income tax purposes. Specifically, it aims to exclude overtime compensation from the total income that is subject to income tax. This means that workers who earn extra pay for overtime hours will not have to pay taxes on that additional income. The key provision of this law is the amendment to the Internal Revenue Code, which states that overtime pay, as defined by the Fair Labor Standards Act, will not be counted as gross income.