Title II — Phase out of special certificates under section 14(c) of the Fair Labor Standards Act of 1938

“(A) at a rate that equals, or exceeds, the greater of—

“(i)

“(I) 50 percent of the wage rate in effect under section 6(a)(1), beginning 6 months after the date of enactment of the Transformation to Competitive Employment Act;

“(II) 60 percent of the wage rate in effect under section 6(a)(1), beginning 2 years after such date;

“(III) 70 percent of the wage rate in effect under section 6(a)(1), beginning 3 years after such date;

“(IV) 80 percent of the wage rate in effect under section 6(a)(1), beginning 4 years after such date;

“(V) 90 percent of the wage rate in effect under section 6(a)(1), beginning 5 years after such date; and

“(VI) the wage rate in effect under section 6(a)(1), on the date that is 6 years after the date of enactment of the Transformation to Competitive Employment Act; or

“(ii) the wage rate in effect on the day before the date of enactment of the Transformation to Competitive Employment Act for the employment, under a special certificate issued under this paragraph, of the individual for whom the wage rate is determined under this paragraph.”

“(6) Prohibition on new special certificates—Notwithstanding paragraph (1), the Secretary shall not issue a special certificate under this subsection to an employer that was not issued a special certificate under this subsection before the date of enactment of the Transformation to Competitive Employment Act.

“(7) Sunset—Beginning on the day after the date on which the wage rate described in paragraph (1)(A)(i)(VI) takes effect, the authority to issue special certificates under paragraph (1) shall expire, and no special certificates issued under paragraph (1) shall have any legal effect.”