Joint quarterly reports

The comptroller and the commissioner shall submit joint quarterly reports to the speaker of the senate, the speaker of the house of representatives, the chair of the finance, ways and means committee of the senate, the chair of the committee of the house of representatives having jurisdiction over finance, the chair of the education committee of the senate, and the chair of the committee of the house of representatives having jurisdiction over education for each institution that requests redirection of capital outlay funds pursuant to this part until all available capital outlay funds have been approved for redirection or the institution no longer seeks redirection of capital outlay funds. The report must include a brief synopsis of each request submitted pursuant to § 49-7-3102, the requirements and other provisions established in the memorandum of understanding entered into pursuant to § 49-7-3103, and a brief synopsis of the institution's progress in meeting the requirements and other provisions established in the memorandum of understanding.