The department shall, in consultation with the Source Reduction Council of the Council of Northeastern Governors, review the effectiveness of this act no later than 36 months after its adoption and shall provide a report based upon that review to the Governor and the General Assembly. The report may contain recommendations to add other toxic substances contained in packaging to the list set forth in this act in order to further reduce the toxicity of packaging waste and shall contain a recommendation whether to continue the recycling exemption as it is provided for in section 302(3)¹ and the exemption under section 302(2) and a description of the nature of the substitutes used in lieu of lead, mercury, cadmium and hexavalent chromium.