(a) A consortium selected to conduct ibogaine drug development clinical trials shall quarterly prepare and submit to the commission:
(1) a report on the progress of the drug development clinical trials conducted under this subchapter; and
(2) a financial status report, including information to verify expenditures of state funds and required matching funds.
(b) The commission shall submit a report to the legislature on the progress of the drug development clinical trials conducted under this subchapter not later than December 1 of each year.