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Automatic Trans has gone CRAZY P1529

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My daughters 03 Tiburon has gone crazy. I have searched the forum and haven't found a clear solution. She backed out of a parking spot yesterday and when she put it in drive it did nothing, zero, zip, nadda. Trailered it home and here's the symptoms:
1. Will go in reverse but not forward in any gear, will actually roll backward in drive.
2. Jolts pretty hard when it goes into reverse.
3. Dash indicator shows reverse, no matter what gear your in.
4. Backup lights are on in all gears and in park with the engine running.
The car has 105,000 miles and has been maintained very well. It all points to something electrical to me but to be honest Im stumped. She told me the check engine light came on before it gave out on her, so I hooked my scanner to it and its showing P1529, looking that up now. I would appreciate any suggestions on this.

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