(1) Labor directly employed by any public employer as defined in ORS 243.650 shall be compensated, if budgeted funds for such purpose are available, for overtime worked in excess of 40 hours in any one week, at not less than one and one-half times the regular rate of such employment. If budgeted funds are not available for the payment of overtime, such overtime shall be allowed in compensatory time off at not less than time and a half for employment in excess of 40 hours in any one week.
(2) Nothing in this section shall prevent a labor organization under the National Labor Relations Act 1 or ORS 243.650 to 243.782 or other employees from negotiating additional overtime pay requirements with a public employer.
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