(a) There shall be established, pursuant to section 2A of chapter 4 of the General Laws, a special commission to study the threshold amounts for lottery and gambling taxation in the commonwealth.

(b) The special commission shall be comprised of the following members: the chairs of the joint committee on revenue or their designees, who shall serve as co-chairs; the chair of the Massachusetts gaming commission or their designee; the state treasurer or their designee; the secretary of administration and finance or their designee; the commissioner of revenue or their designee; 1 member appointed by the speaker of the house of representatives; 1 member appointed by the minority leader of the house of representatives; 1 member appointed by the president of the senate; and 1 member appointed by the minority leader of the senate.

(c) The study shall include, but not be limited to: (i) a review of the amount of lottery and gambling taxation thresholds and the impact it has on the commonwealth; (ii) analysis on the economic implications of lottery and gambling taxation thresholds in the commonwealth; (iii) comprehensive data gathered on lottery and gambling taxation thresholds amounts to inform policy recommendations; and (iv) any recommendations on a more optimal lottery and gambling taxation threshold.

(d) The commission shall prepare a report detailing the results of the study, along with any recommendations and any proposed standards and legislation necessary to carry out its recommendations. The report shall be submitted to the: (i) joint committee on revenue; (ii) house and senate committees on ways and means; and (iii) clerks of the house of representatives and senate not later than December 31, 2026.