(a) There is hereby created the Legislative Oversight Commission of the Workforce Development Division to consist of the Chairman and Deputy Chairman of the Senate Committee on Finance and Taxation, three members of the Senate to be appointed by the Lieutenant Governor, the Chairman and Vice-chairman of the House Ways and Means Committee, and three members of the House of Representatives to be appointed by the Speaker of the House.
(b) The commission shall hold an organizational meeting within 30 days after the date determined pursuant to Section 41-29-6, and shall elect a chairman and vice-chairman from among its members. Thereafter, the commission shall meet at least two times annually, and additional meetings shall be held at the call of the chairman or upon the request of six or more members. Such meetings shall be held with the Director of the Workforce Development Division in attendance.
(c) The commission shall adopt its own rules of procedure for the transaction of business, and a majority of the members present shall constitute a quorum for the purpose of transacting business or performing authorized duties.
(d) Each member of the commission shall be entitled to his or her regular legislative compensation and per diem and travel expenses for each day he or she attends a meeting or conducts business of the commission, and such compensation and expenses shall be paid from the funds appropriated for the use of the Legislature.
(e) The commission shall monitor and evaluate the management and operations of the Workforce Development Division, shall recommend to the Legislature the enactment of such laws respecting the Workforce Development Division as the commission shall deem desirable, and shall submit a written report on the operations, finances and grants made by the Workforce Development Division during each regular session of the Alabama Legislature.