(1) No later than October 1, 2022, and no later than October 1 of each year thereafter, the director shall submit electronically an annual report for the previous fiscal year to the Legislature. The report shall be on a fiscal year, accrual basis that satisfies the requirements set by the Governmental Accounting Standards Board. The director shall, on or before December 15, 2022, and on or before December 15 of each year thereafter, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request.

(2) The report shall state (a) the total amount of matching funds paid by the State of Nebraska, (b) the expected amount of matching funds still to be paid by the State of Nebraska, and (c) the total investment made by the applicants.

(3) The report shall provide an explanation of the audit and review processes of the Department of Economic Development in approving and rejecting the provision of matching funds and in enforcing matching funds repayment.

(4) No information shall be provided in the report or in supplemental information that is protected by state or federal confidentiality laws. The identity of private donors shall not be included in the report.