; (4) by redesignating paragraph (5) as paragraph (6); (5) by inserting after paragraph (4) the following: (5) Reports by the Secretary (A) In general By not later than 2 years after the date of enactment of the Fair Play for Women Act , and every 2 years thereafter, the Secretary shall prepare and publish a report on gender equity using the information submitted under this subsection. (B) Contents The report required under subparagraph (A) shall, in the aggregate for all institutions of higher education described in paragraph (1) and disaggregated by each individual institution— (i) identify participant gaps, if any, by indicating the number of participants that need to be added in order for participants of the underrepresented sex at the institution to match the proportion of enrolled full-time undergraduate students of the underrepresented sex at the institution; (ii) identify funding gaps, if any, by showing the percentage differences, compared to proportions of enrollment of men and women at the institution, in expenditures for athletically related student aid, recruiting, promotion, and publicity in intercollegiate athletics; and (iii) identify any trends evident in such data that address relevant inequities in intercollegiate athletics participation and financial support. ; and (6) in paragraph (6), as redesignated by paragraph (4)— (A) by striking Definition .—For the purposes of this subsection, the term and inserting the following: Definitions .—For purposes of this subsection: (A) Operating expenses The term ; and (B) by adding at the end the following: (B) Participant The term participant means an athlete in a sport who— (i) (I) is receiving the institutionally sponsored support normally provided to athletes competing at the institution involved on a regular basis during the sport’s season; (II) is participating in organized practice sessions and other team meetings and activities on a regular basis during the sport’s season