Senate Bill 1435 amends Chapter 67 of the Private Acts of 1953, specifically adding a new subdivision to Article II, Section 1, which grants the City Council of Gallatin the authority to impose impact fees on individuals or entities developing land within the city limits. These fees are intended to cover the costs associated with capital improvements and other expenses related to such developments. The bill outlines that these expenses may include, but are not limited to, street repair and construction, traffic signals, water services, stormwater and drainage facilities, emergency services, and administrative services related to these improvements.

The bill stipulates that it will only take effect if approved by a two-thirds (2/3) vote of the legislative body of the City of Gallatin. The presiding officer of the legislative body is responsible for proclaiming the approval or nonapproval of the bill and certifying it to the secretary of state. While the bill will become effective upon becoming law for the purpose of approval or rejection, it will only be fully effective as outlined in Section 2 after receiving the necessary legislative approval.