The commissioner of economic and community development is directed to report to the local government committee of the house of representatives and the state and local government committee of the senate each year on or before January 15 concerning the department of economic and community development's financial and program monitoring of the use of federal community development block grant funding to counties and municipalities from the United States department of housing and community development for disaster resilience purposes. The reports to the legislative committees shall continue annually until the commissioner certifies that no funds remain to be expended for disaster resilience from the federal community development block grant funding.