(a) The salaries of the Governor and Lieutenant Governor shall be as provided in this section.

(b) The Governor's Salary Commission is created. It consists of seven members: The State Treasurer; three appointed by the President of the Senate; and three appointed by the Speaker of the House of Delegates. Members of the General Assembly and officers and employees of the State or a political subdivision of the State are not eligible for appointment to the Commission. The members of the Commission shall elect a member to be chairman, and the concurrence of at least five members is required for any formal Commission action. The terms of members shall be for 4 years, except that the persons first appointed to the Commission shall serve from June 1, 1977 until May 31, 1980. The members of the Commission are eligible for reappointment. Members shall serve without compensation but shall be reimbursed for expenses incurred in carrying out responsibilities under this section.

(c) Within ten days after the commencement of the regular session of the General Assembly in 1978, and within ten days after the commencement of the regular session of the General Assembly each fourth year thereafter, the Commission shall make a written recommendation to the Governor, Lieutenant Governor, and other members of the General Assembly as to the salary of the Governor and Lieutenant Governor.

(d) The recommendation shall be introduced as a joint resolution in each House of the General Assembly not later than the fifteenth day of the session. The General Assembly may amend the joint resolution to decrease the recommended salaries, but may not amend the joint resolution to increase the recommended salaries. If the General Assembly fails to adopt a joint resolution in accordance with this section within 50 days after its introduction, the salaries recommended by the Commission shall apply. If the General Assembly amends the joint resolution in accordance with this section, the salaries specified in the joint resolution, as amended, shall apply. If the Commission recommends no salary change, a joint resolution shall not be introduced.

(e) The Commission may not recommend salaries lower than that received by the incumbent Governor at the time the recommendation is made; and the General Assembly may not amend the joint resolution to provide for salaries lower than that received by the incumbent Governor and Lieutenant Governor.

(f) A change in salary resulting from either Commission recommendation or amended joint resolution under this section shall take effect at the beginning of the next ensuing term of the Governor and Lieutenant Governor.

(g) Commission inaction or failure of the Commission to meet the requirements of this section with respect to proposing a change in salary for the Governor and Lieutenant Governor shall result in no change in salary.