The law does apply to cars too, but the 50mph over part is the most reasonable part of this law. The exact same penalties apply for wheelies, all wheelies, so even an inch off the road for a fraction of a second. Finally, the absolute worst law I have ever heard of in my life, improperly mounted or obscured tag will get you the same penalties as well! That means you could ride through a puddle in the rain, kick some dirt up onto your tag, and get a $1,000 fine at the next stop light! Hell, I believe a forum member already proved in court that motorcycle tags are manufactured to an illegal specification as you cannot read the size of the letters at the distance mandated by law with a spot light on it!
Just wait until the second offense...