On or before January 1 each year, the Corporation and the Board shall report to the Governor and, in accordance with § 2–1257 of the State Government Article, the General Assembly on the progress of the human–relevant animal testing alternatives research conducted with money from grants or loans awarded under this subtitle. The report shall identify: each recipient of money from the Fund; the amount of money awarded to each recipient; and a description of the type of State–funded, human–relevant research performed by the recipient and the animal tests the research is intended to replace.