On or before September 1 of each year, the governing body of a municipality that adopts an ordinance pursuant to NRS 271B.070 shall prepare and submit to the Director of the Legislative Counsel Bureau for submission to the Legislature, or to the Legislative Commission when the Legislature is not in regular session, an annual report containing:

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1.  A statement of the status of the qualified project located or expected to be located in the district, and of any changes in that status since the last annual report.

2.  An assessment of the financial impact of the district on the provision of local governmental services, including, without limitation, services for police protection and fire protection.