ANNUAL REPORT

(a) On or before January 1 of each year, the office shall submit to the legislature an annual status report on the activities of the bank. (b) The report under Subsection (a) must include for each program administered by the office: (1) the number of grants, loans, and designations awarded in the previous fiscal year; (2) the total number of grants, loans, and designations awarded by the bank; (3) the amount in dollars of all grants, loans, and designations described by Subdivisions (1) and (2); (4) the number of applications received in the previous fiscal year; (5) the number of outstanding loans and designations; (6) a summary of each outstanding loan and designation, including the amount outstanding and the terms of the loan or designation; (7) the balance of each program's fund and any reserve account; and (8) any challenges in administering each program, including any proposals for statutory changes that would address the challenges. (c) For the small business disaster recovery loan program, the report must include a general description of each small business for which an applicant was awarded a loan from the fund during the preceding fiscal year. (d) In preparing the report under Subsection (a), the office shall remove any identifying information pertaining to program participants.