MD HB972

Establishes the Maryland Fair and Agricultural Education Promise Fund as a special, nonlapsing fund administered by the Comptroller to provide grants advancing agricultural fairs and education in Maryland, with interest earnings credited to the Fund.

Allocates $1,450,000 annually from State lottery proceeds to the Fund beginning after June 30, 2026, taken before remaining lottery funds are deposited into the General Fund.

Mandates annual grants from the Fund: $825,000 to the Maryland Agricultural Fair Board, $550,000 to the Maryland State Fair and Agricultural Society, $75,000 to the Maryland Agricultural Education Foundation, and $50,000 to the Maryland FFA Association.

Shifts funding for agricultural fairs and education from the State horse racing Special Fund to the new lottery-funded mechanism, repealing the existing horse racing fund requirements for these purposes.

Takes effect June 1, 2026.