SECTION 1.  There is hereby established a charter school commission to study the financing of, and innovations promoted by charter schools authorized under the provisions of chapter 71, section 89.  The commission shall report its findings and conclusions to the general court and make recommendations regarding any necessary legislative and regulatory changes which are suggested by those findings and conclusions.  The first meeting of the commission shall take place within 30 days after the effective date of this act.

The commission shall consist of 14 members: 4 members of the senate; 1 of whom shall be the president of the senate or a designee, who shall serve as co-chair of the commission; 1 of whom shall be the minority leader of the senate or a designee; 1 of whom shall be the senate chair of the joint committee on education; 1 of whom shall be the senate chair of the committee on ways and means; 4 members of the house of representatives; 1 of whom shall be the speaker of the house of representatives or a designee, who shall serve as co-chair of the commission; 1 of whom shall be the minority leader of the house or a designee; 1 of whom shall be the house chair of the joint committee on education; 1 of whom shall be the house chair of the committee on ways and means; 1 of whom shall be the secretary of administration and finance or a designee; 1 of whom shall be the secretary of education or a designee; 1 of whom shall be the commissioner of elementary and secondary education or a designee; and 3 members to be appointed by the governor.

The commission shall solicit advice from such persons and entities as it deems necessary.

The commission shall file a report containing its recommendations, including legislation and regulations necessary to carry outs its recommendations, with the joint committee on education and the clerks of the house and senate not later than 9 months following the first meeting of the commission.