(1) The department shall submit an annual report to the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue on October 1, 2024, and October 1 of each year thereafter.
(2) The report required by subsection (1) of this section shall:
(a) Summarize each tax law change enacted during:
1. The immediately preceding Regular Session of the General Assembly; or 2. Any Extraordinary Session of the General Assembly held since the last report was submitted;
(b) Be organized by bill number, including any resolutions impacting the tax laws; and (c) Outline actions taken, or to be taken, by the department to implement each tax law change, including any:
1. Required modification to information technology systems and the estimated cost of that modification;
2. Development of new or modification to existing forms for submission by taxpayers;
3. Taxpayer education efforts deployed or to be deployed in response to the tax law changes;
4. Administrative regulations filed or to be filed;
5. Shifting of personnel to perform the actions; and 6. Suggestions to the Interim Joint Committee on Appropriations and Revenue for related statutory corrections or improvements.