There is a Racing and Community Development Facilities Fund. The Racing and Community Development Facilities Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning racing facilities. The Authority shall: use the Racing and Community Development Facilities Fund as a revolving fund for carrying out this subtitle concerning racing facilities projects; and to the extent authorized by federal tax law, pay any and all expenses from the Racing and Community Development Facilities Fund that are incurred by the Authority, or otherwise specifically approved by the Authority, concerning any racing facilities. Subject to subsections (f) and (g) of this section and to the extent considered appropriate by the Authority, the money in the Racing and Community Development Facilities Fund shall be used to pay the following costs relating to racing facilities projects: debt service on Authority bonds; design and construction costs relating to racing facilities projects; to the extent authorized by federal tax law, transition costs and reimbursements, costs of start–up, administration, overhead, and operations related to the management of improvements to racing facilities projects authorized under this subtitle and undertaken by the Authority; and all reasonable charges and expenses related to the Authority’s administration of the Racing and Community Development Financing Fund and the Racing and Community Development Facilities Fund and the management of the Authority’s obligations. The Racing and Community Development Facilities Fund consists of: funds transferred from the Racing and Community Development Financing Fund as authorized under § 10–646.1(g) of this subtitle; the unencumbered fund balance, including accrued interest, existing as of June 30, 2020, that is allocated to thoroughbred tracks under the Racetrack Facility Renewal Account; the unencumbered fund balance, including accrued interest, existing as of June 30, 2020, that is available to Rosecroft Raceway under the Racetrack Facility Renewal Account; investment and interest earnings; and any additional money made available from any public or private sources for the purposes established for the Racing and Community Development Facilities Fund. The State Treasurer shall invest the money of the Racing and Community Development Facilities Fund in the same manner as other State funds. Any investment or interest earnings shall be credited to the Racing and Community Development Facilities Fund. No part of the Racing and Community Development Facilities Fund may revert or be credited to the General Fund of the State or any special fund of the State. Before the issuance of any bonds authorized under this subtitle to finance improvements to a racing facility, the Authority may pay for any costs for administration, overhead, and operations of the Authority or costs of engineering, architectural, and other design professionals from the Racing and Community Development Facilities Fund. No part of the Racing and Community Development Facilities Fund may be used for the purposes under subsection (c) of this section until the Authority receives a reimbursement from the Fund for any costs under paragraph (1) of this subsection incurred before June 1, 2020. Subject to paragraph (2) of this subsection, for fiscal year 2028, the Governor shall include in the annual budget bill an appropriation of $5,000,000 to the Racing and Community Development Facilities Fund. The Authority shall use the funds included in the annual budget bill under paragraph (1) of this subsection for the acquisition, planning, design, construction, repair, renovation, reconstruction, site improvement, and capital equipping of backstretch housing facilities at Laurel Park.