The Commissioner shall adopt regulations reasonably required to carry out this subtitle. The regulations may include exemptions for minimum number of hours worked or workers employed. Payroll records shall be kept in accordance with those regulations. On or before January 1 of each year, the Commissioner shall submit to the Governor and to the Secretary of Labor an annual report that: describes the activities of the Commissioner under this subtitle during the preceding calendar year; and includes: full information about the operation of this subtitle; and other information about prevailing wage rates, as the Commissioner desires.