; and (B) $16,700 per inspection for rigs operating in water depths of less than 1,000 feet. (7) Billing The Secretary shall bill designated operators under paragraph (5) annually, with payment required within 30 days of billing. The Secretary shall bill designated operators under paragraph (6) within 30 days of the end of the month in which the inspection occurred, with payment required within 30 days after billing. (8) Annual reports (A) In general Not later than 60 days after the end of each fiscal year beginning with fiscal year 2019, the Secretary shall submit to the Committee on Energy and Natural Resources of the Senate and the Committee on Natural Resources of the House of Representatives a report on the operation of the Fund during the fiscal year. (B) Contents Each report shall include, for the fiscal year covered by the report, the following: (i) A statement of the amounts deposited into the Fund. (ii) A description of the expenditures made from the Fund for the fiscal year, including the purpose of the expenditures and the additional hiring of personnel. (iii) A statement of the balance remaining in the Fund at the end of the fiscal year. (iv) An accounting of pace of permit approvals. (v) If fee increases are proposed, a proper accounting of the potential adverse economic impacts such fee increases will have on offshore economic activity and overall production. (vi) Recommendations to increase the efficacy and efficiency of offshore inspections. (vii) Any corrective actions levied upon offshore inspectors as a result of any form of misconduct. (9) Sunset No fee may be collected under this subsection for any fiscal year after fiscal year 2029. . 107. Arctic rule shall have no force or effect The rule entitled Oil and Gas and Sulfur Operations on the Outer Continental Shelf—Requirements for Exploratory Drilling on the Arctic Outer Continental Shelf and published in the Federal Register on July 15, 2016 (81 Fed. Reg. 46478), shall have no force or effect. 108. Application of outer Continental Shelf