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Enrolled House Bill (H)

Authored by

DIGEST

Heavy equipment rental excise tax. Excludes heavy rental equipment from the assessment of the personal property tax. Imposes an excise tax on the rental of heavy rental equipment (excise tax). Provides procedures for the sourcing, collection, and distribution of the excise tax. Provides that the excise tax is apportioned and distributed to local governmental units (units) in the same manner that property taxes are apportioned and distributed. Provides that the excise taxes distributed to the units before January 1, 2020, must be deposited in the unit's excess levy fund. Provides that after December 31, 2019, excise taxes distributed to the Heavy equipment rental excise tax. Excludes heavy rental equipment from the assessment of the personal property tax. Imposes an excise tax on the rental of heavy rental equipment (excise tax). Provides procedures for the sourcing, collection, and distribution of the excise tax. Provides that the excise tax is apportioned and distributed to local governmental units (units) in the same manner that property taxes are apportioned and distributed. Provides that the excise taxes distributed to the units before January 1, 2020, must be deposited in the unit's excess levy fund. Provides that after December 31, 2019, excise taxes distributed to the units must be allocated among the unit's funds in the same proportion that the unit's property tax collections are allocated among those funds. ... View more