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 County Clerk of Chester County 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.

Furthermore, the bill stipulates that violations of this act will be classified as a Class C misdemeanor under Tennessee law. The enactment of this bill is contingent upon receiving a two-thirds (2/3) approval vote from the legislative body of Chester County, with the presiding officer responsible for certifying the outcome to the secretary of state. The bill will take effect immediately upon becoming law for the purpose of approval or rejection, while other provisions will follow the timeline specified in Section 6.