2020 Senate Bill 947

Replace capital equipment tax with on heavy equipment rentals with new rental tax

Introduced in the Senate

June 2, 2020

Introduced by Sen. Peter MacGregor (R-28)

To replace the property tax levied on heavy equipment owned by an equipment rental company with a 2% tax on heavy equipment rentals, mostly to be distributed to local governments. This bill repeals the property tax liability, and Senate Bill 946 authorizes the new rental tax. House Bills 5778 and 5779 would do the same.

Referred to the Committee on Finance