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House Bill 436

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Last Action 02/26/18: to Appropriations & Revenue (H)
Title AN ACT relating to the taxation of rental equipment.
Bill Documents Introduced
Fiscal Impact Statements Fiscal Note
Local Mandate
Bill Request Number 1635
Sponsor M. Prunty
Summary of Original Version Amend KRS 132.010 to define equipment rental inventory; amend KRS 132.020 to add equipment rental inventory to the five cents tax rate; create a new section of KRS Chapter 134 to establish provisions for a one and one-half percent tangible personal property tax recovery fee that an equipment rental company may include in a rental agreement on equipment rental inventory; amend KRS 139.470 to exclude the tangible personal property tax recovery fee from the gross receipts calculation for sales and use tax; EFFECTIVE January 1, 2019.
Index Headings of Original Version Effective Dates, Delayed - Equipment rental inventory, property taxation, January 1, 2019
Effective Dates, Delayed - Tangible personal property tax recovery fee, sales and use tax exclusion, January 1, 2019
Taxation - Property tax, equipment rental inventory, creation of
Taxation - Sales and use tax, gross receipts, tangible personal property tax recovery fee, exclusion of
Taxation, Property - Equipment rental inventory, creation of
Taxation, Sales and Use - Gross receipts, tangible personal property tax recovery fee, exclusion of
Local Mandate - Gross receipts, tangible personal property tax recovery fee, exclusion of
Fiscal Note - Gross receipts, tangible personal property tax recovery fee, exclusion of

Actions

Top
02/22/18
  • introduced in House
02/26/18
  • to Appropriations & Revenue (H)


Last updated: 9/1/2020 2:57 PM (EDT)
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