(1) On or before November 1, 2023, and on or before November 1 of each year thereafter in which the program is being administered by the state treasurer or a selected administrator, the selected administrator or administrators shall submit a combined report to the governor and to the house of representatives business affairs and labor committee and the senate business, labor, and technology committee, or their successor committees, detailing the expenditure of money appropriated for the program and the impact of the program on individuals and households impacted by the COVID-19 pandemic or its negative economic impacts. Notwithstanding the requirements of section 24-1-136 (11)(a)(I), the requirement in this subsection (1) to submit the report continues indefinitely. (2) At a minimum, the report submitted pursuant to subsection (1) of this section must include: (a) The purposes, as specified in section 24-36-304 (2)(a), for which program money was used, and the number and a description of the individuals and households benefitting from the program; (b) The geographic distribution of program beneficiaries; (c) The number of loan defaults; (d) Information concerning the use and impact of a loan loss reserve; and (e) A summary of grants awarded to nonprofit community-based organizations to provide educational and outreach activities and assistance to the program.
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