SECTION 1. The executive office for administration and finance and the office of the state treasurer, in consultation with the department of revenue and the senate and house committees on ways and means, shall study the feasibility of establishing a schedule for an automatic reduction in the sales tax to 5 per cent if certain thresholds in revenue growth are exceeded. The executive office for administration and finance and the office of the state treasurer shall submit a final report of its findings and recommendations, together with drafts of legislation necessary to implement those recommendations, by filing the same with the clerks of the senate and house not later than December 31, 2013.
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