Each bicounty commission shall adopt regulations relating to financial disclosure by its employees. The regulations required by this section: shall be substantially similar to the State financial disclosure provisions of Subtitle 6 of this title; and may not conflict with the financial disclosure provisions for commissioners and applicants specified in §§ 5–824 through 5–828 of this subtitle. Each bicounty commission shall submit the regulations adopted under this section, and any amendments to the regulations, to: the Ethics Commission; and the governing body of each county in which the bicounty commission operates. On or before April 30 each year, each bicounty commission shall certify to the Ethics Commission that the bicounty commission is in compliance with the requirements of this section.