(a) The Board shall encourage and foster agriculture in the State through promotion and assistance of agricultural fairs, exhibits, or other activities. For this purpose, the Board, subject to the approval of the Secretary, has exclusive, complete control of the distribution and expenditure of all funds allocated to it pursuant to the provisions of the Maryland Horse Racing Act for the payment of premium awards, promotional and educational activities, or other activities in connection with a bona fide agricultural fair, exhibit, or activity, as the Board determines, and for one State fair each year, as designated by the Board. The Board shall administer the distribution of the grant provided in § 11-403(c) of the Business Regulation Article to the Maryland State Fair and Agricultural Society, Inc.

(b) The Board, subject to the approval of the Secretary, shall adopt rules and regulations to govern the conduct, qualifications, and requirements of agricultural fairs, exhibits, or activities to which allocations or distributions are made.

(c) No agricultural fair, exhibit, or activity may receive any financial assistance from the Board, unless it has met all qualifications and requirements as set forth in the rules and regulations. The decision of the Board, after the approval of the Secretary, shall be final with respect to every question relating to whether any agricultural fair, exhibit, or activity shall be entitled to financial assistance under the provisions of this section.