Section 62. The state advisory council shall perform all the duties imposed on it by this chapter, and, in addition, shall consider and advise the commissioner upon all matters connected with this chapter. It shall have full investigatory powers, and shall have direct access to all sources of information relating to employment. It shall promote as far as possible the regularization of employment within the commonwealth. It shall also aid in the formation of policies related to the administration of this chapter as to insure a fair, impartial and neutral administration thereof, free from political influences. It shall report to the governor at least quarterly, and to the general court annually and at such other times as the general court may require, its conclusions and recommendations with respect to the administration of this chapter. Said reports shall relate particularly to the actuarial status of the Unemployment Compensation Fund and shall set forth such changes in or additions to this chapter with respect to contributions, benefits or other provisions thereof, as are, in its opinion, necessary for maintaining the solvency of said fund. It shall also investigate and study all proposals for changes in or additions to the provisions of this chapter pending before the general court, including proposals made by the commissioner, and shall report to the general court its recommendations with respect thereto. Reports made by said council to the governor hereunder shall be open to public inspection.

On or before the fifteenth day of October of the first year, the subcommittee is hereby authorized and directed to file with the house and senate committees on ways and means and the clerks of the house of representatives and the senate and the joint committee on commerce and labor a report which shall contain a comprehensive evaluation of the program's effectiveness to date, including but not limited to the number of claimants served, the number of past claimants presently employed, and an accounting of all monies expended through the fund. On or before the fifteenth day of the months of January, April, August and October of the following calendar year, and on or before the fifteenth day of the months of January and April of the final year, said subcommittee shall submit an updated report to the chairmen of said committees.