I like your idea of giving the fines to the people, I'd rather see fines eliminated, they unfairly punish lower income people -- $150 fine to a corporate lawyer is pocket change, to a fast food worker it means not being able to pay rent. Replace it with community service. Get caught speeding, do 10 hours community service. Get caught excessive speeding, do 25 hours community service.
This has the bonus of costing the city / county / state money to supervise the community service and they will then direct the cops to only ticket people who are violating traffic laws AND are endangering the public.