(a) The Board of Higher Education and the Illinois Community College Board shall co-manage the implementation, oversight, and evaluation of the Illinois Articulation Initiative, including determining when panels must be discontinued or convened and the specific requirements of the General Education Core Curriculum. Panels must be convened across the fields of General Education, Communications, Humanities and Fine Arts, Life Sciences, Physical Sciences, Social and Behavioral Sciences, Mathematics, Elementary and Secondary Education, and other fields as determined by the Board of Higher Education and the Illinois Community College Board.
     (b) The Board of Higher Education and the Illinois Community College Board shall provide a joint report on an annual basis to the General Assembly, the Governor, and the Illinois P-20 Council on the status of the Illinois Articulation Initiative and the implementation of this Act.