Maryland Fair and Agricultural Education Promise Fund - Establishment (Maryland Fair and Agricultural Education Promise Act)

HB 650 establishes the Maryland Fair and Agricultural Education Promise Fund, a special non-lapsing fund to provide annual grants for agricultural fairs and education. The bill directs $825,000 to the Maryland Agricultural Fair Board, $75,000 to the Maryland Agricultural Education Foundation, and $550,000 to the Maryland State Fair and Agricultural Society for fair promotion, statewide education, and youth programs like 4-H and FFA. It replaces previous funding from the horse racing special fund by requiring a portion of state lottery proceeds (before General Fund allocation) to fund the new Promise Fund. Interest earnings from the fund must be credited back to it, and the fund is administered by the Comptroller with grants paid annually.