The bill H. 4694 proposes the creation of a study committee tasked with reviewing the effects of Act 388 of 2006 on property assessed at six percent, as well as its impact on school district funding and property taxpayers. The committee will consist of ten members, with appointments made by various leaders from both the Senate and the House of Representatives, including the President of the Senate, the Speaker of the House, and the Majority and Minority Leaders from both chambers.

The study committee is required to compile a report detailing its findings and recommendations, which must be submitted to the General Assembly by July 1, 2027. Following the submission of this report, the committee will be dissolved. The joint resolution will take effect upon receiving approval from the Governor.