Each biennium, the commissioner shall submit to the legislature a report listing:
(1) each critical erosion area;
(2) each proposed erosion response study or project;
(3) an estimate of the cost of each proposed study or project described by Subdivision (2);
(4) each coastal erosion response study or project funded under this subchapter during the preceding biennium;
(5) the economic and natural resource benefits from each coastal erosion response study or project described by Subdivision (4);
(6) the financial status of the account; and
(7) an estimate of the cost of implementing this subchapter during the succeeding biennium.