Introduced Senate Bill (S)

Authored by

DIGEST

Assessment of heavy equipment offered for rent. Provides that motorized heavy equipment vehicles that are leased, or held for lease, by the owner and are otherwise subject to the personal property tax shall be assessed for property tax purposes at the place of the owner's business location at which the motorized heavy equipment vehicle was leased, or is held for lease, as recorded on the owner's books and records on the assessment date. Provides that the owner is not required to file a personal property tax return for a motorized heavy equipment vehicle in a township or county other than Assessment of heavy equipment offered for rent. Provides that motorized heavy equipment vehicles that are leased, or held for lease, by the owner and are otherwise subject to the personal property tax shall be assessed for property tax purposes at the place of the owner's business location at which the motorized heavy equipment vehicle was leased, or is held for lease, as recorded on the owner's books and records on the assessment date. Provides that the owner is not required to file a personal property tax return for a motorized heavy equipment vehicle in a township or county other than the township or county of the owner's business location in which the motorized heavy equipment vehicle is assessed and subject to taxation under the amended law, regardless of the place where the motorized heavy equipment vehicle may be situated as of the assessment date. (Under current law, an owner must file a personal property tax return in the township or county in which the motorized heavy equipment vehicle is situated for regular use on the assessment date.) ... View more