Senate Bill 1438 amends the existing motor vehicle privilege tax regulations in Chester County by establishing a new tax rate of sixty-five dollars and thirty-five cents ($65.35) per motor vehicle per year for residents of the county. The bill specifies that this tax will not apply to vehicles held by auto-dealers for resale or to farm tractors. Additionally, the bill outlines that the Chester County Clerk will be responsible for collecting this tax, and payment must be evidenced by a receipt and a decal displayed on the vehicle's license plate.

The bill also stipulates that violations of this act will be classified as a Class C misdemeanor, in accordance with Tennessee law. Furthermore, the act will only take effect if it receives a two-thirds (2/3) approval vote from the legislative body of Chester County, with the results of the vote to be certified to the secretary of state. The provisions of the act will become effective upon becoming law for the purpose of approval or rejection, while other provisions will take effect as specified in the bill.