summary
Introduced
02/27/2025
02/27/2025
In Committee
03/05/2025
03/05/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Regular Session
Bill Summary
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.
AI Summary
This bill creates a new section of Florida Statutes that allows heavy equipment rental dealers to charge customers a 2% recovery fee on top of the rental price, specifically to help cover tangible personal property taxes on their equipment. The bill defines "heavy equipment" as industrial or construction equipment according to a specific North American Industry Classification System code, and a "heavy equipment rental dealer" as a business that derives more than 50% of its annual revenue from short-term equipment rentals (defined as rentals lasting less than 365 days). The recovery fee cannot be charged to federal government entities, federally recognized Indian tribes, state agencies, municipalities, or counties, and it cannot be included in the taxable sales price. The legislation aims to provide a mechanism for equipment rental businesses to offset their property tax expenses while maintaining transparency in pricing. The new law will take effect on July 1, 2025.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Indefinitely postponed and withdrawn from consideration (on 05/03/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2025/1315 |
| BillText | https://www.flsenate.gov/Session/Bill/2025/1315/BillText/Filed/PDF |
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