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

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

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

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

            (2)      Within 30 days after a local government receives an award of federal aid, the local government 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.