SECTION 1. Notwithstanding any general or special law to the contrary, a special commission is hereby established to conduct a comprehensive study relative the practical and fiscal impacts of adopting a program in Massachusetts similar to Washington and Oregon’s Pay It Forward Higher Education Financing plan. Said study shall focus on the particular intricacies, details, and mechanics of funding, implementing, legislating and administering a “Pay it Forward” model of Higher Education financing. Said department, in the conduct of said study, shall survey similar programs within the 50 states, with specific regard to funding and programmatic practicality and feasibility. Prior to issuing its recommendations, the commission shall conduct not fewer than 4 public hearings across regions of the commonwealth and provide quarterly preliminary reports to be filed with the Senate and House Clerks and the Senate and House chairmen of the Joint Committee on Higher Education. Said department shall report its final findings no later than December 31, 2016 to be filed with the Senate and House Clerks and the Senate and House chairmen of the Joint Committee on Higher Education.

SECTION 2. Said commission shall consist of two (2) members of the Senate: one of whom shall be the Senate Chair of the Joint Committee on Higher Education or his/her designee, and one of whom shall be a member of the minority party who shall be appointed by the minority leader; provided, however, that one (1) member of the Senate shall be designated as Co-chair of the Commission; two (2) members of the House of Representatives: one of whom shall be the House Chair of the Joint Committee on Higher Education or his/her designee, and one of whom shall be a member of the minority party who shall be appointed by the minority leader; provided, however, that one (1) member of the House of Representatives shall be designated as Co-chair of the Commission; the Commissioner of the Massachusetts Office of Student Financial Assistance, or his/her designee; the president of the University of Massachusetts, or his/her designee; the Executive Director of the Massachusetts Educational Financing Authority, or his/her designee; and two (2) persons to be appointed by the governor: one (1) from the business community, and one (1) from the Executive office for Administration and Finance. Members shall not receive compensation for their services but may receive reimbursement for the reasonable expenses incurred in carrying out their responsibilities as members of the commission. The commissioner of Higher Education for Massachusetts shall furnish reasonable staff and other support for the work of the commission.