TRANSPORTATION BENEFIT PROGRAM

Creates the Transportation Benefits Program Act. Requires all covered employers to provide a program that allows a covered employee to elect to exclude from taxable wages and compensation the employee's commuting costs incurred for the purchase of a transit pass to use public transit or for the purchase of qualified parking, up to a maximum level allowed by federal tax law. Provides that all transit agencies shall market the existence of this program and the Act to their riders in order to inform affected employees and their employers. Provides that nothing in the Act shall be deemed to interfere with, impede, or in any way diminish the right of employees to bargain collectively with their employers or affect the validity or change the terms of bona fide collective bargaining agreements in force on the effective date of the Act. Defines terms. Effective January 1, 2024.