(a) Upon receipt of funding provided by the tax credit process in Section 41-10-844, the economic development organization shall proceed with the project that was specified in the application required by Section 41-10-842.
(b) As to a project described in subdivision (a)(1) of Section 41-10-842, the economic development organization shall report to Innovate Alabama upon the completion of the project and at such times as may be required or requested by Innovate Alabama.