Maryland Department of Business and Economic Development Section 5-307

      (a)      The books and records of the Trust shall be subject to audit by the State at its discretion and annually by an independent auditor approved by the State, at the expense of the Trust.

      (b)      (1)      The Trust shall report to the Governor, the Maryland Economic Development Commission, and, subject to § 2-1246 of the State Government Article, to the General Assembly, within the first 90 days of each fiscal year.

            (2)      The report shall set forth the complete operating and financial statement covering the Trust's operations and summarize the Trust's activities during the preceding fiscal year.