The purpose of this subchapter is to:
(1) Continue the special license plates for colleges and universities that existed before April 13, 2005, to support higher education in the state by providing additional funding for academic or need-based scholarships and to transfer the authority to the Department of Finance and Administration to issue additional college and university special license plates; and
(2) Authorize a special license plate for the Arkansas School for the Deaf, which is accredited by an accrediting agency recognized by the United States Department of Education and has students up to twenty-one (21) years of age.