An applicant for a permit to drill a well under § 14–104 of this subtitle shall submit an application in a manner satisfactory to the Department. The application for a permit to drill a well under § 14–104 of this subtitle and each application for a permit renewal shall include a closure cost estimate for the proper sealing and plugging of the gas or oil well and reclamation of the site. The Department shall establish and collect fees for: The issuance of a permit to drill a well under § 14–104 of this subtitle; The renewal of a permit to drill a well under § 14–104 of this subtitle; and The production of oil and gas wells installed after October 1, 2010. The fees imposed under subsection (b) of this section shall be set by the Department at the rate necessary to implement the purposes set forth in § 14–123 of this subtitle. In any fiscal year, if the fee schedule established by the Department generates revenue that exceeds the amount necessary to operate a regulatory program to oversee the drilling of oil and gas wells, the Department shall reduce the fees in the following fiscal year. The fees collected by the Department under this section shall be deposited in the Oil and Gas Fund established under § 14–122 of this subtitle. The Department shall provide public notice, public informational hearings, and judicial review in accordance with the provisions of § 5–204 of this article.