How does comp time work in Pennsylvania?

Q: “I am confused regarding the FLSA laws regarding comp time for nonexempt employees in the state of Pennsylvania. Currently we have been giving nonexempt staff the option of getting paid overtime or taking comp time (if it’s in the same week). However, they are not taking one and a half times the amount in comp time, which doesn’t appear to be right. Now I’m reading that only public or state-run companies can offer comp time in the state. Is this right? Also, if we can offer the comp time, how much can employees accrue, and how long do they have to take it?” — Anonymous, Pennsylvania