Directs the Legislative Research Commission (Commission) as title indicates. Provides specific guidelines the Commission must explore during the study. Provides that the Commission may make an interim report to the 2011 General Assembly when it reconvenes in 2012, and must make a final report to the 2013 General Assembly, including the findings and recommendations of the study, and any legislative or administrative proposals. Appropriates, for the 2011-12 and 2012-13 fiscal years, $25,000 from the General Fund to the General Assembly for the cost of conducting this study. Effective July 1, 2011.