Title: Heavy Equipment Rental Recovery Fee

Summary: Authorizes heavy equipment rental dealer to charge & collect specified recovery fee; requires heavy equipment rental dealer to retain recovery fee for specified purpose; prohibits recovery fee from being charged to certain entities; prohibits recovery fee from being included in any taxable sales price.

Full Text:
An act relating to heavy equipment rental recovery fee; creating s. 212.0607, F.S.; defining terms; authorizing a heavy equipment rental dealer to charge and collect a specified recovery fee; requiring the heavy equipment rental dealer to retain the recovery fee for a specified purpose; prohibiting the recovery fee from being charged to certain entities; prohibiting a recovery fee from being included in any taxable sales price; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Section 212.0607, Florida Statutes, is created to read: 212.0607 Heavy equipment rental recovery fee.-(1) As used in this section, the term: (a) "Heavy equipment" means industrial or construction equipment described under 532412 of the North American Industry Classification System, as published by the Office of Management and Budget, Executive Office of the President. (b) "Heavy equipment rental dealer" means a person or an entity principally engaged in the business of short-term rentals or sales of heavy equipment. (c) "Principally engaged" means more than percent of HB 1315 2025 the annual revenue of the dealer is derived from th erental of heavy equipment, including attachments and ancillary equipment. (d) "Short-term rental" means the rental of a heavy equipment dealer's rental property for fewer than days under an open-ended contract or under a contract with unlimited ter ms. (2) A heavy equipment rental dealer may charge and collect a separately itemized recovery fee of percent of the sales price, in addition to the sales price of the rented property. The heavy equipment rental dealer shall retain the full amount of the recovery fee to pay tangible personal property taxes imposed on the heavy equipment. The recovery fee provided in this section may not be charged to the Federal Government, any federally recognized Indian tribe, any state agency, or any municipality or county of this state. (3) A recovery fee charged to a customer by a heavy equipment rental dealer may not be included in any taxable sales price for purposes of this chapter. Section 2. This act shall take effect July 1, 2025.