1 Independent Economic Impact Statement

(a)On or before June 1, 2015, the Director of the Department of Labor shall issue a Request for Proposal for the purpose of conducting a one

(1)year Independent Economic Impact Statement, relative to the minimum wage increase authorized through P.L. 32-178. The Department of Labor, in collaboration with the Guam Economic Development Authority, shall identify the resources necessary to fund the Independent Economic Impact Statement. The Department of Labor, in collaboration with the University of Guam, shall determine the study parameters.

(b)The Independent Economic Impact Statement shall be completed by an identified group that includes an Economist with a Master’s degree or Ph.D. in Economics from an institution of higher learning accredited by an accreditation agency recognized by the U.S. Secretary of Education, or similar accredited body that is recognized internationally, no later than March 30, 2016, and shall be transmitted to the Speaker of I Liheslaturan Guåhan and to I Maga’hågan/Maga’låhen Guåhan on or before April 30, 2016.