Private companies providing public transportation services; employee protections. Specifies that the governing body or transportation district commission of any county or city that contracts with a private company to provide transportation services shall require such company to (i) provide each of its employees compensation or benefits as specified in the bill, (ii) provide transportation services through its own employees, and (iii) ensure that all employees of the public transportation system employed by a predecessor private company be offered employment with any successor company without loss of compensation or benefits.