Reports

(a) Initial report Not later than 120 days after the date of enactment of this Act, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report, which shall include— (1) a description of the structure of, and procedures for, the Program, including how covered commodities are selected; (2) a plan for management of the Program; and (3) a description of the merit-based review process to be used in selecting eligible entities to participate in the Program. (b) Annual reports (1) In general Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report regarding the Program, which shall include, for the period covered by the report— (A) the number of applications submitted by eligible entities for participation in the Program; (B) the number of agreements entered into under section 4(a); (C) the total notional value of the covered commodities that were the subjects of the agreements described in subparagraph (B), which shall be disaggregated by covered commodity; and (D) the effect of the Program on the eligible entities participating the Program, including feedback from those eligible entities on any costs and benefits of the Program with respect to the business operations of those eligible entities, in particular with respect to expansion and growth plans. (2) Limitation (A) In general Except as provided in subparagraph (B), in collecting information from eligible entities for the purpose of carrying out paragraph (1)(D), the Administrator may not require an eligible entity to report to the Administrator more frequently than upon the termination of an agreement under section 4(a) to which the eligible entity is a party or annually, whichever is less frequent. (B) Exception For the first 2 fiscal years after the fiscal year in which an eligible entity enters into an agreement under section 4(a), the Administrator, for the purpose of carrying out paragraph (1)(D), may not require an eligible entity to report to the Administrator more frequently than upon the termination of an agreement under section 4(a) to which the eligible entity is a party or annually, whichever is more frequent.