Establishes the 10-member Study Committee on Metropolitan Planning Organizations (Committee). Provides for appointment of members, designation of cochairs, filling of vacancies, resignation or removal of members, meetings, member expenses, and Committee staffing. Lists four subjects the Committee must study relating to public involvement, transparency, and oversight of metropolitan planning organizations. Grants specified powers of legislative committees pursuant to identified sections of GS Chapter 120, and authorizes the Committee to contract for professional services. Requires the Committee to report to the Speaker and President Pro Tempore within two years of the date the act becomes law. Terminates the Committee upon the earlier of either the submission of the report or two years after the date the act becomes law.