(1) Creation. There is created a permanent joint legislative committee known as the joint committee on employment relations with such powers and authority as are provided by law and composed of the following 8 members:
(a) Senate cochairperson, joint committee on finance.
(b) Assembly cochairperson, joint committee on finance.
(c) Assembly majority leader.
(d) Assembly minority leader.
(e) Senate majority leader.
(f) Senate minority leader.
(g) Speaker of the assembly.
(h) President of the senate.
(2) Duties. The joint committee on employment relations shall perform the functions assigned to it under subch. V of ch. 111 , subch. II of ch. 230 and ss. 16.53 (1) (d) 1. , 20.916 , 20.917 , 20.923 and 40.05 (1) (b) .