Directs the Department of Commerce (Department) to contract with an independent consulting firm that specializes in unemployment insurance and employment security reform, to obtain recommendations on tax structure changes and on how the revenues and other financial options may service and liquidate the state’s debt liability for unemployment insurance benefits and the deficit in the North Carolina Unemployment Insurance Trust Fund. Directs the Department to expedite entering into a contract with the consultant. Requires the Department to provide progress updates to the Fiscal Research Division and the Program Evaluation Division. Instructs the Department to report to the Governor and the General Assembly on the consultant’s reform recommendations within 45 days after analysis completion. Directs the Employment Security Commission and the Department of Revenue to cooperate to implement the purposes of the act. Includes whereas clauses.