(a) Not later than May 1 of each year and in the form prescribed by the coordinating board, each general academic teaching institution shall provide to the coordinating board and the legislature a report describing any courses in the Lower-Division Academic Course Guide Manual or its successor adopted by the coordinating board for which a student who transfers to the institution from another institution of higher education is not granted:
(1) academic credit at the receiving institution; or
(2) if the student has declared a major and has not changed majors, academic credit toward the student’s major at the receiving institution.
(b) A report required by this section must indicate:
(1) the course name and type;
(2) which institution of higher education provided academic credit for the course; and
(3) the reason why the receiving institution did not grant academic credit for the course as described by Subsection (a), including whether the institution complied with the dispute resolution process under § 61.826.