FL S0916

Establishes definitions for "heavy equipment rental property," "dealer of heavy equipment rental property," and "short-term rental" in Florida's ad valorem tax code, with heavy equipment rental property defined as construction, earthmoving, or industrial equipment that is mobile and rented under NAICS code 532412.

Adds heavy equipment rental property to the definition of inventory for ad valorem tax purposes, subjecting it to inventory tax treatment rather than personal property taxation.

Redesignates existing subsections (8) through (19) of section 192.001 to subsections (9) through (20) to accommodate the new heavy equipment rental property definition as subsection (8).

Updates cross-references in sections 112.312, 192.042, 212.08, 220.03, and 624.5105 from the old subsection numbering (11) and (12) to the new numbering (12) and (13) for consistency throughout the tax code.

Takes effect July 1, 2018.