; (B) include an element that provides for re-evaluation to maintain effective targeting for community development needs of grantees over time and adjusts funding in accordance with such changing needs; and (C) more effectively carry out the purposes of the Program under section 101 of such Act. (b) Reports Not later than the expiration of each applicable 10-year period referred to in subsection (a) of this section, the Secretary shall submit a report to the Congress that— (1) describes the study conducted pursuant to subsection (a) for such period and sets forth any findings and conclusions of such study; (2) sets forth the recommended revisions and updates developed pursuant to subsection (a)(2); (3) specifies how such recommended revisions and updates should be counted for purposes of section 106(b)(3) of the Housing and Community Development Act of 1974