KY HB588 | 2016 | Regular Session
Status
Spectrum: Bipartisan Bill
Status: Introduced on March 1 2016 - 25% progression, died in chamber
Action: 2016-03-02 - to Appropriations & Revenue (H)
Text: Latest bill text (Draft #1) [PDF]
Status: Introduced on March 1 2016 - 25% progression, died in chamber
Action: 2016-03-02 - to Appropriations & Revenue (H)
Text: Latest bill text (Draft #1) [PDF]
Summary
Create a new section of KRS Chapter 142 to require equipment rental companies to collect a mandatory property tax recovery fee equal to one and a half percent of the total amount charged for equipment rentals from their customers; require the fee to be used by the equipment rental companies to satisfy their tangible personal property tax liabilities; provide that any amounts collected that exceed the property taxes owed by the equipment rental company shall be distributed proportionately among the various taxing jurisdictions; EFFECTIVE January 1, 2017.
Title
AN ACT relating to property tax recovery fees.
Sponsors
| Rep. Russ Meyer [D] | Rep. Sal Santoro [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-03-02 | House | to Appropriations & Revenue (H) |
| 2016-03-01 | House | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/16RS/HB588.htm |
| Text | http://www.lrc.ky.gov/record/16RS/HB588/bill.pdf |
| Supplement | http://www.lrc.ky.gov/record/16RS/HB588/LM.pdf |
