(a) Notwithstanding any other provision of this code, severance tax paid on coal extracted incident to the construction of any highway financed, in whole or in part, by this state or any agency of the government of the United States, and subject to the provisions of 30 CFR 912.707 or 22-3-26 of this code shall be deposited on a quarterly basis by the Tax Commissioner in a special fund in the State Treasury to be managed by the Commissioner of the Division of Highways and held in escrow until such time as the conditions specified in this section are complied with.
(b) Coal severance tax subject to escrow.
The severance tax subject to escrow under this section includes:
(A) The 4.65 percent state portion of severance tax on coal imposed under $11-13A-3 of this code; and