(1) A person convicted of violating a special speed limit in a school zone imposed by a local authority pursuant to 61-8-310 (1)(d) is guilty of a misdemeanor. Upon arrest and conviction, the person shall be punished by a fine of not less than double the penalty provided for the violation in 61-8-711.
(2) The fine proceeds must be allocated as follows:
(a) 50% of the fine collected must be distributed as provided in 3-10-601, 46-17-402, or 46-18-235; and
(b) 50% must be forwarded to the local authority that adopted the special speed limit as provided in 61-8-310 (1)(d) for the purposes of erecting signs providing notice of the school zone, the speed limit, and the penalty or for other local law enforcement needs.