Board to report annually.

The board shall submit, by no later than October 1, an annual report to the Transportation and Infrastructure and Natural Resources, Agriculture, and Environmental Quality Appropriations Subcommittees: (1) specifying the amount of each disbursement from the account; (2) identifying the recipient of each disbursement and describing the project for which money was disbursed; and (3) detailing the conditions, if any, placed by the board on disbursements from the account.