Senate Bill 1460 amends Chapter 403 of the Private Acts of 1951, which governs the City of Erin, Tennessee, by updating the language regarding the roles and qualifications of city officials, including the Mayor and Aldermen. The bill removes specific definitions and eligibility criteria, such as the definition of "Elector," while introducing new provisions that clarify the responsibilities of the city recorder, treasurer, and city judge, emphasizing their appointment by the Board of Mayor and Aldermen. It also specifies qualifications for candidates for Mayor and Alderman, including residency and age requirements, aiming to streamline governance and align the city's charter with current legal standards.

Additionally, the bill addresses property tax levies and penalties for late payments, establishing that the Board of Mayor and Aldermen must set a tax levy as a fixed rate per one hundred dollars of assessed valuation, with the previous year's rate continuing if no new levy is made within ninety days of the tax due date. It modifies the penalty structure for late payments to a three percent penalty for each month of delay, clarifying that penalties apply per month rather than on an installment basis. The bill also increases the threshold for unbudgeted expenditures from $2,500 to $5,000 and allows the Board to select official depositories for city funds with required collateral security. The bill will take effect upon a two-thirds vote from the legislative body of the City of Erin.