(1) Beginning in 1980, a general assembly during its second regular session shall designate at least three principal departments for study by joint legislative oversight committees during the interim following the first regular session of the next general assembly. Each of the twenty principal departments shall be studied in this manner at least once before January 1, 1994. A joint legislative oversight committee may be assigned more than one principal department during each interim period.
(2) The legislative audit committee shall cause to be conducted a performance audit of each principal department designated by a general assembly during its second regular session for legislative oversight which audit shall be completed on or before the adjournment of the first regular session of the next general assembly. In conducting the audit, the legislative audit committee shall take into consideration, but not be limited to considering, the factors listed in section 2-7-103 (1). An audit of a principal department shall be forwarded tothe joint legislative oversight committee which is to study said principal department.
(3) During the first regular session of the next general assembly, the president of the senate and the speaker of the house of representatives shall designate the appropriate joint committee of reference as the joint legislative oversight committee for a particular principal department and shall appoint the members of the joint legislative committee from among the members of the committee of reference in each house.
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