The Governor’s Office of Small, Minority, and Women Business Affairs shall:
(1) adopt regulations to implement this subtitle;
(2) establish procedures for tracking and reporting participation of veteran-owned small business enterprises under this subtitle; and
(3) on or before December 1 of each year, report to the Legislative Policy Committee on:
(i) the number and dollar value of contracts awarded to veteran-owned small business enterprises under this subtitle, including the total dollar value of payments made to veteran-owned small business enterprises under existing contracts; and
(ii) an evaluation of the effectiveness of the program under this subtitle.