Senate Bill 1429, also known as House Bill 1408, proposes amendments to various sections of the Tennessee Code Annotated to facilitate statutory revisions necessary for the implementation of the annual appropriations act. Notably, it amends Section 71-5-1305 by replacing the term "monthly" with "monthly or quarterly," allowing for greater flexibility in the timing of certain financial transactions. Additionally, the bill introduces a new subsection to Section 4-3-1016, authorizing transfers from the Access Tennessee health insurance program fund for the fiscal year ending June 30, 2025.

Furthermore, the bill adds a new subsection (v) to Section 67-6-103, which stipulates that all revenues from the sale, use, consumption, or distribution of new or used tires after July 1, 2025, must be allocated to the highway fund, with a cap of $80 million for the 2025-2026 fiscal year. It also clarifies that certain revenues derived from previous tax increases for educational purposes will not be affected by this new allocation directive. The act is set to take effect upon becoming law, emphasizing the public welfare requirement.

Statutes affected:
Introduced: 71-5-1305
Amended with HA0441, HA0443 -- 04/16/2025: 71-5-1305, 4-3-1016, 67-6-103