Provides certain transit agencies with a temporary tool that can help address their revenue shortfalls during this economic crisis.

Establishes a statewide plan that will guide future investments in public transportation.

Requires the joint transportation committee to convene a panel of interested stakeholders to consider and propose a statewide blueprint for public transportation services. The requirement expires June 30, 2012, and is null and void if funding is not provided by June 30, 2010.