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GA HB471
Bill
Status
Engrossed
2/29/2016
Primary Sponsor
Ron Stephens
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AI Summary
- Imposes a 1.5% "property tax recovery fee" on rental charges for construction, industrial, maritime, and mining equipment rented for 365 days or fewer, effective January 1, 2017, through December 31, 2020
- Requires equipment rental companies (NAICS codes 532412 and 532310) to collect the fee from renters and remit it to county tax commissioners as a credit against the company's ad valorem tax liability on rental equipment, proportioned across counties based on total ad valorem liability
- Excludes delivery/pickup charges, damage waivers, environmental fees, and other ancillary charges from the tax base; the fee must be separately stated in each rental agreement
- Any property tax recovery fees exceeding a company's ad valorem tax liability for rental equipment in a given year are remitted by the county tax commissioner to the county's general fund
- Requires county tax commissioners to report annually (beginning April 1, 2017) to the Department of Revenue on fees collected and ad valorem taxes assessed, and requires the department to submit a summary report to the Governor and legislative leaders by July 1, 2020
Legislative Description
Ad valorem tax; heavy-duty vehicles; add a definition of certain vehicles
Last Action
Senate Read and Referred
3/2/2016
Full Bill Text
No bill text available