The bill proposes the establishment of a program by the Department of Economic Development to award grants to nonprofit organizations for the operation of bike-sharing programs. It outlines that the department will determine the eligibility of these organizations and will require them to report on the use of the grants to ensure the funds are utilized for their intended purpose. Additionally, the bill includes provisions for the return of any funds that are not used as authorized.

Furthermore, the bill expresses the Legislature's intent to appropriate $250,000 from the General Fund to support the establishment of this bike-sharing grant program. This initiative aims to promote public health and welfare by enhancing transportation options within the state.