CA AB1543

Requires fares paid through reduced fare transit programs to be counted as full adult fares when calculating required fare revenue-to-operating cost ratios for transit operators under the Transportation Development Act.

Applies the full fare counting to all reduced or free fares for students, veterans, children, senior citizens, and persons with disabilities.

Exempts this calculation method from applying to annual reports to the Controller or fiscal and performance audits, which must continue using standard fare revenue definitions.

Preserves existing exclusions from operating cost calculations, including ADA paratransit costs, fuel and power cost increases beyond inflation, and startup costs for new services up to two years.