A report prepared pursuant to section 2502 shall include:
1. Past effectiveness. An evaluation of the past effectiveness of the statutory provision;
2. Future need. An evaluation of the future need for the statutory provision;
3. Alternative methods. An examination of alternative methods of attaining the purpose of the provision;
4. Cost of retention. An estimate of the cost of retaining the provision; and
5. Recommendation. A recommendation of the committee as to the amendment, repeal, replacement or retention of the provision.