A BILL to be entitled an Act to provide for a new homestead exemption from City of Tunnel Hill ad valorem taxes for municipal purposes in the amount of $60,000.00 for each resident of the City of Tunnel Hill who is 65 years of age or older and whose income does not exceed $40,000.00; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for related matters; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, and automatic repeal, mandatory execution of election, and judicial remedies regarding failure to comply; to repeal conflicting laws; and for other purposes.