When the Commission intends to consider the issuance of a license for a new racetrack, the Commission shall advertise in the Maryland Register an application period, not to exceed 60 days, during which the Commission shall accept application documents. The Commission shall specify the type, and general geographic area, of the racetrack for which it will consider applications. The advertisement shall be published at least 30 days before the first day of the application period. To be timely, the application documents shall be delivered to the Commission not later than 5 p.m. on the last day of the application period. An application delivered after the deadline may not be accepted and may not be considered by the Commission.