2007 Senate Bill 528

Revise rental product tax depreciation

Introduced in the Senate

May 23, 2007

Introduced by Sen. Valde Garcia (R-22)

To establish a five year depreciation schedule for assessing the value of daily rental property for purposes of levying personal property tax (the tax on business tools and equipment). “Daily rental property” is defined as an item that is exclusively offered on an hourly, daily, weekly, or monthly basis for a rental term of six months or less and had an acquisition cost when new of $10,000.

Referred to the Committee on Finance