Oklahoma 2023 Regular Session

Oklahoma House Bill HB1348 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - HB1348 SFLR Page 1
4		-	(Bold face denotes Committee Amendments) 1
	3	+	ENGR. H. B. NO. 1348 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	April 10, 2023
31		-	AS AMENDED
32		-
33	28		ENGROSSED HOUSE
34	29		BILL NO. 1348 By: Fetgatter of the House
35	30
36	31		and
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38	33		Rader of the Senate
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43	40		[ heavy equipment rentals - recovery fee - report to
44	41		Oklahoma Tax Commission - General Revenue Fund -
45	42		sales tax on recovery fee amounts – codification ]
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49	47		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
50	48		SECTION 1. NEW LAW A new section of law to be codified
51	49		in the Oklahoma Statutes as Section 2807.10 of Title 68, unl ess
52	50		there is created a duplication in numbering, reads as f ollows:
53	51		As used in this act:
54	52		1. "Heavy equipment property" includes all rental p roperty
55	53		owned or held by a rental business classified under Industry Code
56	54		No. "532412" or "532310" of the 2017 North American Industry
57	55		Classification System as published by th e United States Bureau of
58	56		the Census;
59	57		2. "Primarily" means more than fifty -one percent (51%) of the
60	58		annual revenue of the business is derived from the rental of
61	59		personal property; and
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63		-	SENATE FLOOR VERSION - HB1348 SFLR Page 2
64		-	(Bold face denotes Committee Amendments) 1
	61	+	ENGR. H. B. NO. 1348 Page 2 1
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89	86		3. "Rental charge" is defined as the charge of the rental and
90	87		does not include any other costs such as pickup and delivery, fuel,
91	88		or damage waiver.
92	89		SECTION 2. NEW LAW A new section of law to be codified
93	90		in the Oklahoma Statutes as Section 2807. 11 of Title 68, unless
94	91		there is created a duplication in numbering, reads as follows:
95	92		A. Except as provided in subsection B of this sect ion, a
96	93		company primarily in the business of renting heavy equipment
97	94		property located in this state may include as a separate line item
98	95		on the rental invoice a recovery fee of one and one-quarter percent
99	96		(1.25%) on the rental charge from any item of heavy equipment
100	97		property rental by a customer. The total amount of the recovery fee
101	98		shall be retained by the business for the purposes of paying
102	99		personal property taxes levied by al l taxing jurisdictions against
103	100		the heavy equipment property located in the state.
104	101		B. Notwithstanding the provisions of subsection A of this
105	102		section, the recovery fee provided in this section shall no t apply
106	103		to the rental of heavy equipment property to t he federal government,
107	104		any federally recognized Indian tribe, the State of Oklahoma, any
108	105		municipality or any county of this state. There shall not be an y
109	106		other exemptions from the recovery fee.
110	107		SECTION 3. NEW LAW A new section of law to be c odified
111	108		in the Oklahoma Statutes as Section 2807.12 of Title 68, unless
112	109		there is created a duplication in numbering, reads as follows:
113	110
114		-	SENATE FLOOR VERSION - HB1348 SFLR Page 3
115		-	(Bold face denotes Committee Amendments) 1
	111	+	ENGR. H. B. NO. 1348 Page 3 1
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140	136		The recovery fee shall not be subject to state or local sales
141	137		tax.
142	138		SECTION 4. NEW LAW A new secti on of law to be codified
143	139		in the Oklahoma Statutes as Se ction 2807.13 of Title 68, unless
144	140		there is created a duplication in numbering, reads as follows:
145	141		Annually, on or before February 15 , each rental business that
146	142		collects the equipment rental recovery fee shall be required to
147	143		submit to the Tax Commission a con solidated report showing the
148	144		aggregated personal property taxes paid in the state duri ng the
149	145		previous calendar year and the aggregated recovery coll ections in
150	146		the state. If the aggregated recovery co llections in the state
151	147		exceed the aggregated taxes paid in the state, the excess shall be
152	148		paid to the General Revenue Fund .
153		-	COMMITTEE REPORT BY: COMMITTEE ON FINANCE
154		-	April 10, 2023 - DO PASS AS AMENDED
	149	+	Passed the House of Representatives the 13th day of March, 2023.
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	154	+	Presiding Officer of the House
	155	+	of Representatives
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	158	+	Passed the Senate the ___ day of __________, 2023.
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	163	+	Presiding Officer of the Senate
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