SECTION 1. There is hereby established a Prevailing Wage Commission, the purpose of which shall be to determine the effectiveness, practicality and usefulness in establishing fair wage rates of Massachusetts Prevailing Wage Law, so-called, as contained in Chapters 149, 5, 71, and 121B of the general laws. In making such determinations the commission shall consider, at a minimum, whether the provisions of the current law result in wage rates which accurately reflect the actual market wage rates in the specific categories and geographic areas to which they apply, and whether other methodologies, including but not limited to those employed by the federal government.

SECTION 2. The Department of Labor Standards within the Executive Office of Labor and Workforce Development is hereby authorized and directed to provide information on its website that details the current prevailing wage rates, the methodology by which the rates are determines, and any actions that have been taken within the last twelve months to modify one or more rates.

SECTION 3. The Department of Labor Standards within the Executive Office of Labor and Workforce Development shall conduct at least one public hearing per year on issues relating to the prevailing wage law, notice of which shall be promulgated as extensively as possible, and specifically provided to the municipalities and other political subdivisions of the commonwealth, and to the extent possible, organizations representing employers engaged in public projects and organizations representing organized labor in the commonwealth.