what is the fair pay law and if there is such a thing, is it affected by the # of employees in a company?

Answer 1

There is no such thing a "Fair Pay" law in Texas.
Texas is a right to work state that follows the federal mandate of minimum wage for work performed at a rate of $5.15 per hour. Plus time and half for hours worked over 40 per week. (Overtime) A person can be salaried in a non-managerial postion based on a 40 hour work week, However any time over 40 hours must be compensated @ time and half. Managerial positions do not have to be compensated for time over 40, reason is the position already should be well over federal minimum.
There are two exceptions, one for food service employees who recieve tips in course of service. They have a minimum rate of $2.00 per hour. Tips must be reported to employer for tax purposes.
The other is salary based on commision of sales. This is contractual agreement between a supplier of product and sales of product. Salary is based percentage of sales only. Since a salesman works at his or her own pace and hours.
The only provision based on number of employees is Workmans Compensation, if your injured while at work. Then an employer must inform you that they do not have or required to have coverage.

Answer 2

Federal minimum wage = $5.15 per hour.

It kicks in if your business has sales > $500k, has a government contract or subcontract, or does interstate transactions. There are exceptions.