|(a) Effective date. The provisions of this section apply to franchise tax reports originally due on or after January 1, 2008. (b) Membership. The Business Tax Advisory Committee is composed of: (1) the comptroller, who is the presiding officer of the advisory committee; (2) two members of the house of representatives, appointed by the speaker of the house of representatives; (3) two members of the senate, appointed by the lieutenant governor; and (4) the following persons appointed by the comptroller, who shall determine the number of residents appointed: (A) at least five residents of this state who are engaged in a private business, as either an employee or an owner, that is subject to taxation under this chapter; and (B) at least two residents of this state with expertise in state business taxation. (c) Purpose. The advisory committee shall conduct a biennial study of the effects of the tax imposed under this chapter on businesses in this state. The study must take into consideration: (1) the relative share of the tax paid by industry and by size of business; (2) how the incidence of the tax compares with the economic makeup of this state's business economy; (3) how the tax compares in structure and in amounts paid to the business taxes imposed by other states; (4) the effect of the tax on the economic climate of this state, including the effect on capital investment and job creation; (5) any factors that result in the tax not operating as intended; and (6) any other item presented by the comptroller or by a majority of the committee. (d) Procedures. Report findings are to be issued to the speaker of the house of representatives, the lieutenant governor, and the governor not later than the date each regular session of the legislature begins. (e) Expiration. This section expires January 31, 2013.