Notwithstanding any other law to the contrary, beginning January 1, 2027, and ending December 31, 2030, the revenues derived from the payment of rent and royalties of federal coal lease sales occurring in the state after January 1, 2027, shall be distributed annually as follows:
(1) The first one million dollars ($1,000,000) shall be deposited in the State General Fund.
(2) The next five-hundred thousand dollars ($500,000) shall be distributed to the Alabama Port Authority for the McDuffie Coal Terminal at the Port of Mobile.
(3) The next two-hundred fifty thousand dollars ($250,000) shall be distributed to the Alabama Surface Mining Commission.
(4) The remaining revenues shall be deposited in the Renewing Coal-Impacted Communities Act Fund and shall be used by the department to award grants to eligible local development organizations pursuant to this chapter.