Senate Bill 994, sponsored by Bailey, proposes an amendment to the Tennessee Code Annotated, specifically targeting Title 57 and Title 67, which pertain to taxes. The bill seeks to delete Section 67-4-114 entirely from the current law, indicating a significant change in the tax regulations outlined in that section.

The act is set to take effect immediately upon becoming law, emphasizing the urgency and necessity of the changes for public welfare. The removal of this section may have implications for tax policy in Tennessee, although the specific details of the deleted section are not provided in the summary.

Statutes affected:
Introduced: 67-4-114