(1) The comptroller of the treasury shall monitor the actions of the corporation for a period of three (3) years from the date the corporation is created.
(2) No later than March 1st following the end of the third year of the creation of the corporation, the comptroller shall file a report with the governor and the state and local government committee of the senate and the local government committee of the house of representatives with recommendations concerning whether the pilot project should be continued, expanded or discontinued, together with recommended legislative actions based on such decision.