By October 1 of each year, the division shall provide a written report to the Legislature and the Business and Labor Interim Committee that describes:

(1) the amount of money in the fund, including the encumbered fund balance;

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(2) an estimate of when the fund will have insufficient money to continue to pay claims under this chapter; and
(3) a recommendation to the Legislature of whether the substantive provisions of this chapter should be repealed due to insufficient money in the fund.