Relating to binding arbitration for purposes of public employee collective bargaining.

Modifies procedures required for binding arbitration for certain public employees. Requires arbitration to be conducted by three-person arbitration panel. Requires certain percentage of diverse arbitrators be included amongst list of potential arbitrators submitted to interested parties for consideration by Employment Relations Board. Requires parties to arbitration proceeding to submit last best offer package that includes parties' position on each unresolved subject matter item. Requires arbitration panel to select one position for each item and issue findings with respect to each finding.