Introduced Senate Bill (S)

Authored by

DIGEST

Excise tax on heavy equipment. Excludes motorized heavy equipment vehicles from the assessment of the personal property tax. Imposes an excise tax on the rental of motorized heavy equipment vehicles (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. Requires the units to deposit the excise taxes in the units' levy excess fund. Excise tax on heavy equipment. Excludes motorized heavy equipment vehicles from the assessment of the personal property tax. Imposes an excise tax on the rental of motorized heavy equipment vehicles (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. Requires the units to deposit the excise taxes in the units' levy excess fund.