(a) The secretary, on or before the first day of the regular legislative session, shall report annually to the legislature:
(1) The number of children participating in the program and the breakdown of where these children were placed, with either a grandparent or other close relative;
(2) the number of children moved from a foster care placement or other state custody to a grandparent or other close relative;
(3) an overview of the moneys spent on the program; and
(4) the cost-savings analysis of implementing the program by having the children placed with a grandparent or other close relative instead of being placed in state custody.
(b) The secretary may adopt any rules and regulations necessary to implement the provisions of this act.