(a) After consultation with the Department of Budget and Management, the Secretary of Planning shall adopt regulations that require a county or municipality to submit information, as required in this section, on federal aid, including grants, instructional contracts, loans, research contracts, and other assistance.

(b) (1) Every 6 months, a county or municipality shall submit a summary notice to the Department of Planning if, during the 6-month period that the notice covers, the county or municipality received an award of federal aid in the form of an instructional contract, an instructional grant, a research contract, or a research grant.

(2) The summary notice shall state the amount of the award.

(c) (1) This subsection does not apply to an instructional contract, an instructional grant, a research contract, or a research grant.

(2) Within 30 days after a county or municipality receives an award of federal aid, the county or municipality shall submit to the Department of Planning a summary notice that states:

(i) the amount of the award; and

(ii) if the award is conditioned on matching funds:

1. the amount of those funds;

2. the source of those funds; and

3. the period for which those funds are required.