(a)
(1) The Comprehensive Arkansas Higher Education Annual Report shall be submitted by the Division of Higher Education to the House Committee on Education and the Senate Committee on Education, the President Pro Tempore of the Senate, the Speaker of the House of Representatives, and the Governor no later than December 15, 2011, and each year thereafter.
(2) The Comprehensive Arkansas Higher Education Annual Report shall be posted on the division website for public inspection no later than January 1, 2012, and each year thereafter.
(b) The Comprehensive Arkansas Higher Education Annual Report shall consist of the following reports:
(1) Annually:
(A) Scholarship programs, including without limitation the Arkansas Academic Challenge Scholarship Program;
(B) Remediation rates, §§ 6-15-2401 and 6-61-221;
(C) The Universal ACT Assessment Program, § 6-18-1608;
(D) Military students and families, § 6-61-112;
(E) Retention rates and graduation rates, § 6-61-220;
(F) Athletic expenditures, § 6-62-106;
(G) Student enrollment, § 6-60-209; and
(H) Affirmative action programs summaries, § 6-63-103;
(2) Biennially, each even-numbered year:
(A) A financial condition report, § 6-61-222;
(B) Changes to affirmative action program plans, § 6-63-103; and
(C) Economic development goals and educational efforts, § 6-61-207; and
(3) Every five (5) years, beginning in 2015:
(A) Minority retention plans, § 6-61-122; and
(B) Affirmative action program plans, § 6-63-103(c).
(c)
(1) All deadlines for higher education reports currently required by the General Assembly are superseded by subsection (b) of this section unless otherwise specified in this subchapter.
(2) All financial reports provided to the Arkansas Higher Education Coordinating Board shall be included in the report, including the Annual Financial Condition Report.
(d) All future higher education reports statutorily required by the General Assembly shall:
(1) Be submitted as part of the Comprehensive Arkansas Higher Education Annual Report; and
(2) Include a fiscal impact on administrative costs to the division.