On or before July 1, 2024 and on or before each July 1 thereafter, each institution of higher education shall report to either the Board of Higher Education or the Illinois Community College Board, whichever is appropriate, information regarding financial-based transcript and registration holds, which must include:

1. (1) reporting the institution of higher education's policy developed pursuant to Section 30 of this Act; and
2. (2) reporting the number of students for whom the institution of higher education has withheld official transcripts, diplomas, or registration privileges, using data from the previous academic year.

(Source: P.A. 103-54, eff. 6-9-23.)