1. Short title This Act may be cited as the Opportunity to Compete Act . 2. Restrictions relating to prospective employees’ educational credentials The Fair Labor Standards Act of 1938 ( 29 U.S.C. 201 et seq. ) is amended by inserting after section 7 the following new section: 8. Guidance relating to educational credentials (a) In general Except as provided in subsection (b), an employer may only use, in the consideration of prospective employees for a position of employment, a computerized hiring system if such system— (1) discloses to the prospective employee the median years or expected years of experience required for a position, which may include experience received through military service, community college, training programs, and some college; and (2) if the employer requires a bachelor’s degree for the position, considers a prospective employee who has the required years of experience described in paragraph (1) as meeting the degree requirement. (b) Waiver of requirement (1) In general The Secretary of Labor shall provide an exemption to the requirements under paragraph (2) of subsection (a) with respect to certain positions of employment with an employer if such employer demonstrates to the satisfaction of the Secretary that— (A) the skills and knowledge required for such position of employment cannot reasonably be obtained without a bachelor’s degree; and (B) the employer discloses the requirement of a bachelor’s degree to all prospective employees in a timely manner. (2) Application for exemption An employer seeking an exemption under this subsection shall submit an application for such exemption to the Secretary of Labor at such time and in such manner as the Secretary may require. (3) Timeline for exemption application The Secretary of Labor shall— (A) not later than 7 days after receiving an application for an exemption, notify the employer submitting such application that the Secretary of Labor has received their application