The Department shall establish a program for the retraining and placement of hospital employees who are unemployed or who may become unemployed as a result of the closing and delicensing of a hospital or the merging of hospitals under § 19–325 of the Health – General Article. The Secretary and the Secretary of Health shall adopt regulations to implement this section. There is a Hospital Employees Retraining Fund. The Fund shall be used: for the purposes described in this section; and to pay any and all expenses of the Department in administering this section. If a closing and delicensing of a hospital, or the merging of hospitals described in subsection (a) of this section occurs, the Department shall allocate money from the Fund to the local workforce development board in the county or region affected. Any unexpended funds remaining in the Hospital Employees Retraining Fund at the end of the fiscal year may not revert to the General Fund of the State.