Nevada SB196 allows heavy equipment rental companies to charge a recovery fee to offset property taxes on certain heavy equipment.

Nevada SB196 amends state law to authorize heavy equipment rental companies to impose a recovery fee of up to 2% of the rental charge. This fee is intended to offset property taxes levied on the heavy equipment rental property. The bill outlines specific record-keeping and reporting requirements for these companies, including maintaining separate accounts for the recovery fees collected. If the collected fees exceed the property taxes for the preceding fiscal year, the company must pay the excess to the county treasurer, who then apportions the payment to state and local governments.

Nevada SB196 allows heavy equipment rental companies to charge a recovery fee to offset property taxes on certain heavy equipment.

Nevada SB196 amends state law to authorize heavy equipment rental companies to impose a recovery fee of up to 2% of the rental charge. This fee is intended to offset property taxes levied on the heavy equipment rental property. The bill outlines specific record-keeping and reporting requirements for these companies, including maintaining separate accounts for the recovery fees collected. If the collected fees exceed the property taxes for the preceding fiscal year, the company must pay the excess to the county treasurer, who then apportions the payment to state and local governments.