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.