(a) Effective July 1, 1998, and for all subsequent fiscal years, all revenues produced from the sale or renewal of personalized plates and all revenues produced from the personalization of cultural, specialty earmarked and new specialty earmarked motor vehicle registration plates as authorized by §§ 55-4-214 and 55-4-241, or renewals of the plates, after deducting the expense the department has incurred in designing, manufacturing and marketing the plates, shall be allocated to the Tennessee arts commission created in title 4, chapter 20.
(b) 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. Such revenues shall be allocated in accordance with § 55-6-107.
(c)
(1) Notwithstanding subsection (a), funds received from the sale of personalized trailer plates shall be earmarked as provided by this subsection (c). A general fund reserve is established to be allocated by the general appropriations act, which shall be known as the trailer license plate fund, referred to as the fund in this subsection (c).
(2) Moneys from the fund shall be expended to finance the development and maintenance of public horseback riding trails.
(3) Any revenues deposited in the fund shall remain in the fund until expended for purposes consistent with this section, and shall not revert to the general fund on any June 30.
(4) Any excess revenues shall not revert on any June 30, but shall remain available for appropriation in subsequent fiscal years.
(5) Any appropriation from the fund shall not revert to the general fund on any June 30, but shall remain available for expenditure in subsequent fiscal years.
(6) No moneys shall be expended from the fund unless the funds are specifically appropriated by the general appropriations act.
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