Directs the joint legislative audit and review committee to study the effect of enacting tax preferences for aerospace product development businesses. The committee shall summarize its findings in the form of a report. The report shall estimate the effect of enacting tax preferences for aerospace product businesses on job retention, job growth, company growth, diversification of the state's economy, cluster dynamics, and other factors the committee may select. The report is due to the house finance and senate ways and means committees by December 1, 2007.