Taxes, Sales - As introduced, allocates all revenue generated from the state sales tax on retail sales of new or used motor vehicles and new or used tires in excess of base tax revenues to the state highway fund. - Amends TCA Title 9; Title 54; Title 55 and Title 67.

SB 24 directs all state sales tax revenue from new and used vehicle and tire sales that exceeds a base amount (defined as the prior fiscal year's revenue level) to the state highway fund starting July 1, 2025. It requires annual allocation of the incremental tax increase above this base to the highway fund, without changing current tax rates. The bill explicitly excludes two existing tax allocations - those from the 2002 tax rate increase (6% to 7%) and education-related tax revenue - from this new highway fund allocation. This policy change affects how vehicle and tire sales tax revenue is distributed, ensuring all excess revenue flows to highway funding.