shall update the plan to award grants based on the formula described in this paragraph, to ensure the Administration is prepared to award grants based on the formula described in this paragraph if the amount made available for the program for the next fiscal year is not less than $30,000,000. (K) Reporting Not later than 180 days after the end of each fiscal year for which the amount of grants under this subsection is determined under the formula described in this paragraph, the Associate Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that provides the information used by the Associate Administrator to determine the amounts of grants under the formula, which shall include for the applicable fiscal year— (i) the number of States that applied for a grant under the program