(a) On or before November 30, 2024, and on or before November 30 each year thereafter, the Secretary shall submit a report to the General Assembly in accordance with § 2-1257 of the State Government Article on efforts to increase transit-oriented development throughout the State.

(b) The report shall include an analysis of the following issues for each transit-oriented development in the State:

(1) The demographic and socioeconomic indicators present in the transit-oriented development and the surrounding areas;

(2) Development activity occurring in the transit-oriented development during the period that the report covers; and

(3) Transit station utilization rates for the transit-oriented development.

(c) The Department shall consider the findings of the report required under this section for purposes of updating the scoring standards for applications for financial assistance from the Transit-Oriented Development Capital Grant and Revolving Loan Fund established under Subtitle 12 of this title.