SECTION 1. There is hereby established a committee on Massachusetts Business Competitiveness and Affordable Living, which shall be charged with oversight of matters to improve the ability of businesses, including small businesses, to form and thrive under Massachusetts law, and to lower the cost of living for Massachusetts residents and families. As part of this oversight, the committee will conduct an ongoing review of state statutes and administrative regulations to assess whether existing laws are impeding the ability of Massachusetts businesses to locate and expand their operations here in Massachusetts, as well as whether existing laws are artificially increasing the cost of living in Massachusetts, together with such related matters as the committee may determine from time to time. This review shall include, but not be limited to, an examination of state and local taxation policies, the cost of food and consumer goods, and the cost of education, housing, transportation, health care, child care, and utilities for Massachusetts residents.

The committee shall consist of twenty-one members, two of whom shall be appointed by the Governor; two of whom shall be appointed by the President of the Senate; one of whom shall be appointed by the Minority Leader of the Senate; two of whom shall be appointed by the Speaker of the House of Representatives; one of whom shall be appointed by the Minority Leader of the House of Representatives; one of whom shall be the secretary of the executive office of administration and finance, or designee; one of whom shall be the secretary of the executive office of housing and livable communities, or designee; one of whom shall be the secretary of the executive office of health and human services, or designee; one of whom shall be the President of the Associated Industries of Massachusetts, or designee; one of whom shall be the Massachusetts State Director of the National Federation of Independent Business, or designee; one of whom shall be the Chair of the Massachusetts Taxpayers Foundation, or designee; one of whom shall be the President of the Retailers Association of Massachusetts, or designee; one of whom shall be the President of the Massachusetts Restaurant Association, or designee; one of whom shall be the President of the Massachusetts High Technology Council, or designee; one of whom shall be the Executive Director of the Massachusetts Municipal Association, or designee; one of whom shall be the President of the Massachusetts Association of Realtors, or designee; one of whom shall be the Chief Executive Officer of the Greater Boston Chamber of Commerce, or designee; and, one of whom shall be the Chief Executive Officer of the Cape Cod Chamber of Commerce or designee.

The committee shall issue an annual report to the Clerks of the Senate and House of Representatives as to its findings not later than December 31 of each year, with recommendations of potential policy changes that could lower the cost of living for Massachusetts residents and families and make it easier and more affordable for businesses to locate and expand their operations in Massachusetts. Notwithstanding any general or special law to the contrary, no member of the committee shall receive any compensation in exchange for their services.