The State Fire Commissioner shall:
(1) Establish guidelines for municipalities, volunteer fire companies and nonprofit EMS agencies regarding the tax credit and post the guidelines online.
(2) Require municipalities and entities under this section to notify the State Fire Commissioner of the adoption of a tax credit.
(3) Provide an annual report on the tax credit authorized under this chapter to the chairperson and minority chairperson of the Veterans Affairs and Emergency Preparedness Committee of the Senate and the Veterans Affairs and Emergency Preparedness Committee of the House of Representatives which shall include:
(i) Each municipality that provides the tax credit.
(ii) The amount of the tax credit.