Section 11-406 - Disposition of remaining funds after deductions made.
§ 11-406. Disposition of remaining funds after deductions made.
After all deductions from the Special Fund as required by §§ 11-403, 11-404, and 11-404.1 of this subtitle are made, money that remains in the Special Fund shall be allocated in the following way:
(1) 50% to the Maryland Agricultural Education and Rural Development Assistance Fund established under § 2-206 of the State Finance and Procurement Article, with one-third of these funds to be allocated to support the operations of the Rural Maryland council; and
(2) 50% to be allocated in the following way:
(i) 70% to the Maryland-Bred Race Fund; and
(ii) 30% to the Maryland Standardbred Race Fund, to be divided equally between the Sire Stakes Program and the Foaled Stakes Program.
[An. Code 1957, art. 78B, § 19; 1992, ch. 4, § 2; 1998, ch. 477; 1999, ch. 291; 2000, ch. 309, § 1; 2005, ch. 410.]