Section 1. Notwithstanding any provision of law to the contrary, the Massachusetts turnpike Authority, established by chapter three hundred and fifty-four of the acts of nineteen hundred and fifty-two, the Massachusetts Port Authority, established by chapter four hundred and sixty-five four of the acts of nineteen hundred and fifty-six, the Massachusetts Parking Authority, established by chapter six hundred and six four of the acts of nineteen hundred and fifty-eight, and the Wood?s Hole, Martha?s Vineyard and Nantucket Steamship Authority, created by chapter seven hundred and one four of the acts of nineteen hundred and sixty, shall have authority to bargain collectively with labor organizations representing employees of said authorities and to enter into agreements with such organizations relative to wages, salaries, hours, working conditions, health benefits, pension and retirement allowances of such employees. The employees of said authorities shall submit all grievances and disputes to arbitration, pursuant to the arbitration provisions in agreements existing at the time of the passage of this act or subsequently entered into with said authorities, or in the absence of such provisions with the state board of conciliation and arbitration, or other board or body having similar powers and duties, whose decisions shall be final and binding.

Notwithstanding any provision of the law to the contrary, the provisions of section four, four A, four B, five, six, six A, six B, six C, seven and eight of chapter one hundred and fifty A of the General Laws, so far as apt, shall apply to said authorities and their employees.

Nothing in this act shall be construed as conferring upon the employees of any of said authorities the right to strike.

Section 2. This act shall effect upon its passage.