1.  The Commission shall develop a statewide vision and implementation plan to improve the public education system in this State. The Commission shall:

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(a) Conduct a benchmarking or gap analysis study comparing the education policies of this State to the education policies of high-performing international and domestic education systems.

(b) Make recommendations on how to adapt the appropriate education policies of high-performing international and domestic education systems into the public education system in this State.

(c) Identify objectives to put the education performance of pupils in this State in parity with that of pupils in high-performing international and domestic education systems and make recommendations on how to meet the identified objectives.

(d) Review the findings of any previous or ongoing studies related to the funding of education and incorporate any relevant findings.

(e) Develop an implementation plan for the recommendations made pursuant to this section which includes an analysis of the costs of the plan.

2.  The Commission may employ and contract with the National Center on Education and the Economy or an organization with similar expertise and qualifications to carry out any of its functions pursuant to this section.

3.  The Commission may coordinate with educational entities and business entities for information and expertise as necessary to carry out any of its functions pursuant to this section.

4.  On or before June 30 of each year, the Commission shall submit a written report of its findings to the Governor, the Superintendent of Public Instruction, the Legislative Commission and the Joint Interim Standing Committee on Education.