(a)    Subject to § 2–1257 of the State Government Article, the Secretary shall provide to the General Assembly on a biennial basis by no later than February 1 of the fiscal year preceding the fiscal year the report covers, a report that contains a statement of the estimated amount by which exemptions from taxation reduce, for the year:

(1)    State revenues; and

(2)    revenues that the State collects for local governments.

(b)    For each exemption, the statement shall:

(1)    show the estimated amount by which the exemption reduces revenues;

(2)    identify the person or the part of the population that benefits from the exemption; and

(3)    say whether the exemption conflicts with any other State program.

(c)    The statement shall include:

(1)    each subtraction modification under § 10–207, § 10–208, or § 10–209 of the Tax – General Article; and

(2)    each exemption under:

(i)    Title 8, Subtitle 7 of the Natural Resources Article;

(ii)    § 5–104, § 6–103, § 7–203, § 7–303, § 9–203, § 9–303, § 9–304, § 10–104, § 10–211, § 10–212, § 12–104, or Title 11, Subtitle 2 of the Tax – General Article;

(iii)    Title 7 of the Tax – Property Article; and

(iv)    § 13–810 or § 13–903 of the Transportation Article.

(d)    The Comptroller, the Department of Assessments and Taxation, the Maryland Department of Labor, the Department of Natural Resources, the Department of Transportation, and other units of the State government shall help the Secretary of Budget and Management to prepare a draft of the statement under this section.