The budget office, the house fiscal advisor, and the senate fiscal advisor along with the house and senate fiscal staff and legal counsel shall study the feasibility and benefits of adopting a two (2) year budget cycle, and shall report in writing to the governor, the speaker of the house of representatives, and the president of the senate on or before January 2, 1994. The report shall address not only the benefits, if any, but also any disadvantages and/or legal impediments, constitutional and/or statutory, to adopting such a budget cycle.