The board of regents of the University of Hawaii shall submit a written report to the legislature no later than twenty days prior to the convening of each regular session regarding:
(1) The development, implementation, and enforcement of its regulatory framework and research compliance program to reflect ethical research principles and technology transfer regulations used by the federal government;
(2) The technology transfer activities of the University of Hawaii, as defined in section 84-10, and the status of such activities; and
(3) A disclosure, including the University of Hawaii's conflict of interest management plan, of any conflict of interest of any employee of the University of Hawaii relating to its technology transfer activities.