Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. SB 384
       
       
       
       
       
       
                                Barcode 359034                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/21/2011           .                                
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       The Committee on Community Affairs (Wise) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Heavy equipment rental; tangible personal
    6  property tax recovery fee.—
    7         (1) As used in this section, the term:
    8         (a) “Heavy equipment” means industrial or construction
    9  equipment, including, but not limited to, equipment described in
   10  the North American Industry Classification System (NAICS) Code
   11  532412 as published in 2007 by the Office of Management and
   12  Budget within the Executive Office of the President of the
   13  United States.
   14         (b) “Lessee” means the person who rents or leases the heavy
   15  equipment.
   16         (c) “Short-term rental agreement” means a lease or rental
   17  agreement having a term of less than 365 days or an at-will
   18  contract that does not specify a term. However, the term “short
   19  term rental agreement” does not include any extension or renewal
   20  of a lease or rental agreement having an original term of 365
   21  days or more.
   22         (2) For the purpose of recovering the tangible personal
   23  property tax imposed on heavy equipment, a person engaging in
   24  the business of leasing or renting heavy equipment may collect a
   25  recovery fee in an amount equal to 2 percent of the total rental
   26  transaction fee generated in each county of operation. The
   27  recovery fee may be collected and retained after payment of the
   28  personal property tax assessed for the previous year only if:
   29         (a) The heavy equipment is subject to a short-term rental
   30  agreement that discloses the amount and purpose for the
   31  collection of the recovery fee; and
   32         (b) The person engaging in the business of renting or
   33  leasing heavy equipment may not seek additional recoupment of
   34  the recovery fee for the current year if the actual recovery fee
   35  collected in the current year exceeds the tangible personal
   36  property tax paid in the prior year.
   37  
   38  If, during the current year, the recovery fee collected by the
   39  person engaging in the business of renting or leasing heavy
   40  equipment exceeds the tax paid in the prior year, the excess
   41  recovery fee amount collected shall be applied to reduce the
   42  following year’s recovery fee recoupment by that amount.
   43         Section 2. This act shall take effect July 1, 2011.
   44  
   45  ================= T I T L E  A M E N D M E N T ================
   46         And the title is amended as follows:
   47         Delete everything before the enacting clause
   48  and insert:
   49                        A bill to be entitled                      
   50         An act relating to tangible personal property
   51         taxation; providing definitions; authorizing
   52         collection of a tangible personal property tax
   53         recovery fee by a person engaging in the business of
   54         renting or leasing heavy equipment; providing
   55         requirements for collection, retention, and
   56         reimbursement of the recovery fee; providing an
   57         effective date.