(a) The Interagency Commission or, if required under subsection (b) of this section, the Maryland Stadium Authority shall evaluate the life cycle costs of public school buildings over a 50-year period, including:

(1) An evaluation, based on a 50-year period, of the cost and efficiency of using alternative energy systems, including geothermal, solar, wind, and energy storage compared to a traditional energy system;

(2) An energy consumption and systems replacement analysis, based on a 50-year period, of each major piece of equipment in any of the following systems serving the public school building:

(i) The cooling system;

(ii) The heating system;

(iii) The hot water system;

(iv) The lighting system;

(v) The ventilation system; or

(vi) Any other major system that uses energy; and

(3) The impact of innovative building design and materials on energy consumption, including white roofs and green roofs.

(b) The Interagency Commission or the Maryland Stadium Authority, as applicable, may contract with a third party to conduct the evaluation under subsection (a) of this section.

(c) (1) The evaluation required under subsection (a) of this section shall be conducted and submitted to the General Assembly in accordance with § 2-1257 of the State Government Article on or before October 1, 2023.

(2) On or before October 1, 2020, and each October 1 through 2022, the Interagency Commission or the Maryland Stadium Authority shall provide annual updates on the progress of the evaluation to the General Assembly, in accordance with § 2-1257 of the State Government Article.