Tennessee Senate Bill SB0746

Tennessee 2023-2024 Regular Session

• Introduced: 1/30/23
• Engrossed: 3/13/23
• Enrolled: 4/3/23
• Passed: 4/17/23
• Chaptered: 4/25/23

Caption

AN ACT to amend Tennessee Code Annotated, Title 55, Chapter 17 and Title 62, Chapter 19, relative to auctions of previously titled motor vehicles that are antique or unique.

Impact

The impact of SB 746 is significant as it lowers regulatory barriers for individuals wishing to sell antique or unique vehicles at auctions, specifically during festivals. This can stimulate local entrepreneurial activities and encourage community events centered around automotive culture. By bypassing the motor vehicle dealer license requirement, it offers potential for increased participation in auctions, thereby benefiting both sellers and buyers who may be looking for unique vehicles without traditional dealer constraints. However, it restricts this exemption to certain conditions, creating a localized effect that may vary across the state.

Summary

Senate Bill 746 aims to amend certain provisions of the Tennessee Code Annotated regarding the sale and purchase of previously titled antique or unique motor vehicles through an auction format. This legislation allows individuals to conduct such sales without the need for a motor vehicle dealer license, provided the auction is organized alongside a motor vehicle festival. Additionally, the bill specifies that some proceeds from these festivals must be donated to a hospital neurological institute, targeting areas with a specific population range as per the latest census data.

Sentiment

The general sentiment surrounding SB 746 appears to be positive, particularly among proponents who advocate for simplifying regulations in a way that fosters local economic opportunities and community engagement. By enabling auctions without the need for a dealer license, supporters argue that it can lead to a more vibrant marketplace for antique and unique vehicles. However, the specificity of the bill may produce mixed feelings among those who desire broader accessibility to such sales without festival constraints, potentially leading to debate on its inclusivity.

Contention

Notable points of contention regarding SB 746 may arise from the bill's specific stipulations, such as the requirement for auctions to be held in conjunction with festivals that benefit a designated hospital. Some may argue that this requirement could limit opportunities to those in certain geographical areas, thereby restricting potential sellers and reducing the overall effectiveness of the bill. Furthermore, the temporary nature of the exemption, set to repeal on October 16, 2023, adds a layer of urgency and potential concern about the long-term viability and impact of this legislation.