The commissioner shall annually submit to the Legislature a report concerning the formation of new employee stock ownership trusts and the operation of existing employee stock ownership trusts in this State, and shall include in the report an account of State activity, during the previous year, in connection with these trusts.
This section supersedes the annual reporting requirements previously assigned to the Commissioner of Labor under section 6 of P.L.1981, c. 82 (C. 34:1B-35).