The Commissioner of Energy and Environmental Protection may develop a program to acquire from Connecticut residents, and to remove from highway use, motor vehicles which are not in compliance with state motor vehicle emissions standards or which are otherwise determined by the commissioner to be high-emission vehicles the removal of which would provide a cost-effective benefit with regard to the state’s air quality. Such program shall not apply to any vehicle registered as an antique, rare or special interest vehicle under § 14-20. On or before February 1, 1994, the commissioner shall submit a report to the joint standing committee of the General Assembly having cognizance of matters relating to the environment as to the most cost-effective design and specifications for such program and any methods for funding such program.