Resolved, that there shall be a special commission to study property assessment in the commonwealth. The commission shall consist of: the commissioner of revenue or a designee; the chairs of the joint committee on revenue; 2 members of the senate, 1 of whom shall be appointed by the senate president, who shall serve as co-chair, 1 who shall be appointed by the senate minority leader; 2 members of the House of Representatives, 1 appointed by the speaker of the house of representatives, who shall serve as co-chair, and 1 chosen by the House of Representatives minority leader; a representative of the Lincoln Institute of Land Policy; and a representative of the Massachusetts Municipal Association, Inc.

 The commission shall: (i) study the evaluation process of municipal assessing departments where vertical inequity is present in valuation assessments and assessed values; (ii) examine if there are flaws in the current real property tax classification system; (iii) identify modifications to the General Law Chapter 59, Section 2A and implementation; (iv) identify appropriate increases to property tax exemptions.

 The commission shall convene its first meeting within 60 days of the effective date of this act and shall conduct not fewer than 3 public hearings to gather input from stakeholders and the public.

 Not later than January 1, 2027, the commission shall file its recommendations and report with the clerk of the senate and house of representatives the joint committee on revenue and the department of revenue.