Senate Bill 1438 amends the existing motor vehicle privilege tax regulations in Chester County by establishing a new tax rate of $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. The tax is a prerequisite for operating a motor vehicle within Chester County, and the County Clerk is designated as the official responsible for collecting this tax. Vehicle owners must retain a receipt from the County Clerk and display a decal on their license plates as proof of payment.

Additionally, the bill stipulates that violations of this act will be classified as a Class C misdemeanor under Tennessee law. The implementation of this act is contingent upon receiving a two-thirds majority approval from the legislative body of Chester County, with the presiding officer responsible for certifying the outcome to the secretary of state. The act will take effect immediately upon becoming law for the purpose of approval, while other provisions will become effective as outlined in the bill.