The revenue generated from each fine imposed pursuant to this chapter shall be allocated as follows:
(1)
Forty percent (40%) to the state general fund;
(2)(i) Thirty percent (30%) to the municipality where the violation takes place; and
(ii) Thirty percent (30%) to the vendor who supplies and supports the video detection monitoring system being used; and
(3) The provisions of this section shall not apply to contracts existing at the time of the enactment of this section, and shall only apply to new contracts, or extensions of existing contracts, entered into on or after the effective date of this section.