Requires a county and a city that have entered into a cooperative agreement for the joint regulation of taxicabs or for hire vehicles to: (1) Provide for taxicab license reciprocity, by allowing the driver of a taxicab to transport passengers for hire from within either jurisdiction without holding or obtaining any additional licensing or permit from either jurisdiction;

(2) Subject the vehicle and driver to the rules and regulations of the jurisdiction in which it is operating;

(3) Relicense as a taxicab, a for hire vehicle that it regulates and that performs substantially the same transportation service for the public as a taxicab; and

(4) Charge the owner of a for hire vehicle a nominal relicensing fee not to exceed one hundred dollars.