(b) to cause to be prepared program plans for the economic development financial assistance programs of the state, in cooperation with the agency or public benefit corporation or public authority, consistent with the legislative intent and statutory authorization for such programs. Program plans shall be derived from and shall be consistent with the annual economic development strategic plan and, accordingly, may be updated as necessary. Such plans shall be transmitted to the agency or public authority or public benefit corporation responsible for administering the program and to the speaker of the assembly and the temporary president of the senate within ninety days of the effective date of any statute authorizing such program. With respect to existing economic development financial assistance programs, the commissioner shall transmit program plans on or before July first, nineteen hundred eighty-eight. Program plans shall describe the goals, objectives and priorities of each financial assistance program, shall guide the development of operating procedures and rules and regulations governing each financial assistance program, shall set forth the manner in which the financial assistance program shall be coordinated with other economic development programs and shall set forth a description of the operating relationships with relevant agencies and regional and local public and private organizations;