Bill > SB196

This bill authorizes heavy equipment rental companies in Nevada to charge a recovery fee to help offset property taxes levied on their heavy equipment inventory. Specifically, the bill allows these companies to impose a fee of up to 2% on each equipment rental, with several important stipulations: the fee must be separately stated on the customer's invoice, kept in a dedicated account, and used exclusively to cover property taxes on rental equipment. The bill defines key terms like "heavy equipment rental property" (which includes construction and industrial equipment like earthmovers, generators, and portable offices) and specifies who qualifies as a "heavy equipment rental company" based on specific North American Industry Classification System (NAICS) codes. Importantly, the bill exempts certain governmental entities from being charged this recovery fee, including federal and state agencies, political subdivisions, and other entities constitutionally protected from taxation. The legislation also requires these companies to submit an annual report to the Department of Taxation detailing the recovery fees collected and property taxes paid, and establishes penalties for fraudulent reporting, including potential gross misdemeanor charges for intentionally misrepresenting financial records.

Budget and Finance, Business and Industry

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12243/Overview