Creates the Local Government Chairperson Term Limit Review Act. Provides that, no later than December 31, 2023, and no less than every 2 years thereafter, a governmental unit that is governed by an elected governing body that has not enacted term limits for the board's chairperson by ordinance or resolution shall consider and decide, by verbal or written vote, ordinance, resolution, or referendum of the electors of the governmental unit, whether to impose term limits for the chairperson of the governing body. Defines "governmental unit" as a unit of local government or school district. Provides that, if a governmental unit has a term limit policy for the chairperson of its governing body, before a person may be elected chairperson, the governmental unit's clerk or secretary shall determine which members of the governing body are eligible to serve as chairperson of the governing body based upon the term limit policy. Provides that the clerk or secretary shall submit an eligibility report to the governing body listing those members who are eligible and ineligible before the meeting at which the chairperson is to be elected. Limits the concurrent exercise of home rule powers. Effective immediately.