Creates the Local Journalism Task Force Act. Establishes the Local Journalism Task Force, consisting of one member of the House of Representatives appointed by the Speaker of the House of Representatives, one member of the House of Representatives appointed by the Minority Leader of the House of Representatives, one member of the Senate appointed by the President of the Senate, one member of the Senate appointed by the Minority Leader of the Senate, one member appointed by the Governor, and one representative of each of the following entities: the Medill School of Journalism, Media, Integrated Marketing Communications at Northwestern University; the Public Affairs Reporting Program at the University of Illinois at Springfield; the School of Journalism at Southern Illinois University Carbondale; the Illinois Press Association; the Illinois Broadcasters Association; the Illinois Legislative Correspondents Association; the Illinois Public Broadcasting Council; and the Illinois Municipal League. Directs the Task Force to study communities underserved by local journalism and review all aspects of local journalism. Requires the Department of Commerce and Economic Opportunity to provide administrative support. Provides that the Task Force shall report its findings and recommendations for legislation to the Governor and General Assembly. Provides that the Act is repealed 2 years after the effective date.