SECTION 1.  A special commission is hereby established to investigate and study the fiscal impact of eliminating property tax and increasing the sales tax in the commonwealth.  The investigation and study shall include, but not be limited to, examining the impact of property tax elimination on a city by city or town by town basis.  The investigation and study shall also focus on how an increased sales tax in the commonwealth could proportionately balance this loss of revenue.  The commission is directed to study the effects of this property tax elimination and increased sales tax. 

The commission shall be appointed by the governor and shall consist of 10 members as follows: the house and senate chairmen of the joint committee on revenue who shall serve as co-chairs of the commission, the house and senate chairmen of the committees on ways and means, or their designees, the speaker of the house of representatives, or his designee, the president of the senate, or his designee, the state auditor, or his designee, the commissioner of the department of revenue, or his designee, a representative of the executive office of administration and finance and a representative of the Massachusetts Taxpayers Foundation.  The commission shall report to the general court the results of its study, together with drafts of legislation necessary to carry such recommendations into effect, by filing the same with the clerk of the House of Representatives on or before December 31, 2010.