Kentucky House Bill 436 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 22 2018 - 25% progression, died in committee
Action: 2018-02-26 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [PDF]

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.

AN ACT relating to the taxation of rental equipment.

Rep. Melinda Prunty [R]

Date	Chamber	Action
2018-02-26	House	to Appropriations & Revenue (H)
2018-02-22	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/18RS/HB436.htm
Text	http://www.lrc.ky.gov/recorddocuments/bill/18RS/HB436/bill.pdf
Supplement	http://www.lrc.ky.gov/recorddocuments/note/18RS/HB436/LM.pdf
Supplement	http://www.lrc.ky.gov/recorddocuments/note/18RS/HB436/FN.pdf