SECTION 1. There shall be a special task force to review and report on the economic and educational impact of establishing public private partnerships between state educational institutions and private corporations. The task force shall consist of 15 members: the house and senate chairs of the joint committees on economic development and emerging technologies and higher education, or their designees, who shall serve as the co-chairs of the task force; a member of the general court appointed by the senate minority leader; a member of the general court appointed by the house minority leader; the executive director of the Massachusetts Workforce Development Board, or a designee; the executive of the Massachusetts Life Sciences Center, or a designee; the executive director of the Massachusetts Technology Collaborative, or a designee; and 5 persons to be appointed by the secretary of labor and workforce development, 1 of whom shall be an employee of the commonwealth in the office of the secretary of labor and workforce development, 1 of whom shall be a member of the Massachusetts Biotechnology Council, 2 of whom shall be selected from a list of 5 persons nominated by the Massachusetts Business Roundtable, and 2 of whom shall be selected from a list of 5 persons nominated by the chancellor of the university of Massachusetts.

This task force shall: (i) identify and review the state laws, regulations, and administrative directives pertaining to public private partnerships; (ii) identify the key labor sectors that would best benefit from grants and fellowships within the commonwealth; (iii) require the department of labor and workforce development to submit reports to the legislature it obtains from industries relating to their employment trends and future needs; and (iv) develop recommendations to establish legislative procedures to provide funding and regulate public private partnerships to eligible institutions and corporations.

The task force shall submit a report, including any draft legislation and regulations, to the clerks of the house of representatives and the senate within 12 months of the passage of this act.