The proposed budget of the Division of Labor and Industry shall include an appropriation from the Public Service Commission to cover the cost of administering this title. Unless the Board of Public Works exercises the option under subsection (b) of this section, the Public Service Commission shall pay the cost of administering this title from money the Public Service Commission receives under § 2–110 of the Public Utilities Article. The Board of Public Works may adopt a regulation to assess, fairly and as equally as possible, each railroad company operating in the State the cost of the State’s share of activities under this title. The amount to be paid by the Public Service Commission may not exceed $1 million in any fiscal year.