The commissioner shall establish guidelines for the accumulation and use of state compensatory time not governed by the Fair Labor Standards Act ( 2 U.S.C. § 1313, et seq.). Employees who accumulate the maximum number of hours of state compensatory time or more shall be paid for each additional hour of overtime worked based on that employee’s hourly wage. Payment shall be made at the end of each pay period for eligible hours accumulated during the previous pay period.