For fiscal years 2024 through 2028, the Governor shall include in the annual State budget an appropriation of $500,000 from the Transportation Trust Fund for the operation of the replica sailing vessel known as the Pride of Baltimore II. On or before December 1, 2023, and on or before December 1 each year thereafter, any person or entity receiving funds under this section shall submit a report to the Department and, in accordance with § 2–1257 of the State Government Article, the Senate Budget and Taxation Committee and the House Appropriations Committee that includes: An accounting of how the funds were expended, supported by properly executed records, receipts, vouchers, invoices, and contracts that evidence the nature of the expenditures; An itinerary and any other information that demonstrates that the Pride of Baltimore II was operated solely for the purposes of promoting historical maritime education, fostering economic development and tourism, and representing the citizens of Maryland in every port visited; and A strategic business plan that includes: A goal to decrease or eliminate the need for State funds; An annual operating budget and plan for the current year and the following year; and To the extent practicable, the itinerary of the Pride of Baltimore II.