(1) Effective July 1, 1998, and for all subsequent fiscal years, all revenues produced from the sale or renewal of cultural motor vehicle registration plates as defined in § 55-4-201, excluding personalized plates and the arts plates authorized by § 55-4-240, after deducting the expense the department has incurred in designing, manufacturing and marketing the plates, shall be allocated as follows: Eighty percent (80%) of the funds shall be allocated to the Tennessee arts commission created in title 4, chapter 20; and
(2) Twenty percent (20%) of the funds shall be allocated to the state highway fund.
(3) Notwithstanding subsection (a), the revenues produced from the sale or renewal of personalized plates pursuant to § 55-4-210 and the revenues produced from the personalization of cultural, specialty earmarked and new specialty earmarked motor vehicle registration plates pursuant to §§ 55-4-214 and 55-4-241, or renewals thereof, shall be allocated in accordance with § 55-4-215.
(4) Notwithstanding this section, the revenues produced from the sale or renewal of the cultural plates to support the arts authorized by § 55-4-240 shall be allocated in accordance with § 55-4-217.
(5) Nothing in this section shall be construed as reallocating the revenues produced from the regular motor vehicle registration fees, or renewals thereof, imposed by part 1 of this chapter. The revenues shall be allocated in accordance with § 55-6-107.