On or before July 1, 2025, and each July 1 thereafter, the collector or the clerk of the circuit court for the county, whichever is designated to collect recordation tax for the county, shall submit a report, in accordance with § 2–1257 of the State Government Article, to the Senate Budget and Taxation Committee and the House Ways and Means Committee that includes, for the immediately preceding fiscal year:
(1) the total number of indemnity mortgages recorded that were exempt from recordation tax under § 12–105(f)(7)(iii)2 of this title;
(2) the amount of debt secured by each indemnity mortgage that was exempt from recordation tax under § 12–105(f)(7)(iii)2 of this title; and
(3) the amount of recordation tax revenue forgone due to the indemnity mortgage exemption from recordation tax under § 12–105(f)(7)(iii)2 of this title.