The Section 108 Study Group has released the The Section 108 Study Group Report.
Here's the group's charge from the "Executive Summary":
The purpose of the Section 108 Study Group is to conduct a reexamination of the exceptions and limitations applicable to libraries and archives under the Copyright Act, specifically in light of digital technologies. The group will study how section 108 of the Copyright Act may need to be amended to address the relevant issues and concerns of libraries and archives, as well as creators and other copyright holders. The group will provide findings and recommendations on how to revise the copyright law in order to ensure an appropriate balance among the interests of creators and other copyright holders, libraries and archives in a manner that best serves the national interest.
Here's an overview of the document from the "Executive Summary":
The Study Group’s recommendations, conclusions, and other outcomes of its discussions are described in this Report in three separate sections: "Recommendations for Legislative Change" addresses issues for which the Study Group agreed a legislative solution is appropriate and agreed on recommendations for legislative change. These recommendations often are subject to the resolution of related outstanding issues, discussed in detail in the body of the Report. "Conclusions on Other Issues" addresses issues on which the Study Group had substantive discussions, and agreed a legislative solution might be appropriate, but for which it has no specific recommendations on the major issues. "Additional Issues" addresses additional important issues that the Study Group discussed.