On recommendation of the Advisory Committee, the Commission shall set: the number of Fund Races; the amount of each purse; the date of each Fund Race; the location of each Fund Race held outside the State; the distance of each Fund Race; each breeder’s award, including awards for races in the State and outside the State; and any other condition needed to carry out the purpose of the Fund. The Commission shall set the amount of each purse and the conditions for each Fund Race in time to allow a licensee who provides for a Fund Race to include the purse and conditions in the stake book and condition book of the licensee.