The special committee is directed to study issues surrounding the property tax exemption for property leased as residential housing, including: (1) the impact of Columbus Park Housing v. City of Kenosha, 267 Wis. 2d 59 (2003) on the exemption; (2) the effect of the exemption on: municipalities, property taxpayers, residents of tax-exempt housing, the availability of financing for development of low-income housing, and benevolent activities of tax-exempt organizations; and (3) any other issues the committee considers relevant. The committee shall develop and recommend legislation relating to these issues as it finds appropriate.