By October 1 of each year, the division shall provide a written report to the Legislature and the Business and Labor Interim Committee that describes:
(1) the amount of money in the fund, including the encumbered fund balance;
(2) an estimate of when the fund will have insufficient money to continue to pay claims under this chapter; and
(3) a recommendation to the Legislature of whether the substantive provisions of this chapter should be repealed due to insufficient money in the fund.