  The James Webb Space Telescope will revolutionize transiting exoplanet
atmospheric science due to its capability for continuous, long-duration
observations and its larger collecting area, spectral coverage, and spectral
resolution compared to existing space-based facilities. However, it is unclear
precisely how well JWST will perform and which of its myriad instruments and
observing modes will be best suited for transiting exoplanet studies. In this
article, we describe a prefatory JWST Early Release Science (ERS) program that
focuses on testing specific observing modes to quickly give the community the
data and experience it needs to plan more efficient and successful future
transiting exoplanet characterization programs. We propose a multi-pronged
approach wherein one aspect of the program focuses on observing transits of a
single target with all of the recommended observing modes to identify and
understand potential systematics, compare transmission spectra at overlapping
and neighboring wavelength regions, confirm throughputs, and determine overall
performances. In our search for transiting exoplanets that are well suited to
achieving these goals, we identify 12 objects (dubbed "community targets") that
meet our defined criteria. Currently, the most favorable target is WASP-62b
because of its large predicted signal size, relatively bright host star, and
location in JWST's continuous viewing zone. Since most of the community targets
do not have well-characterized atmospheres, we recommend initiating preparatory
observing programs to determine the presence of obscuring clouds/hazes within
their atmospheres. Measurable spectroscopic features are needed to establish
the optimal resolution and wavelength regions for exoplanet characterization.
Other initiatives from our proposed ERS program include testing the instrument
brightness limits and performing phase-curve observations.(Abridged)
