Code Section Group

Revenue and Taxation Code - RTC

DIVISION 2. OTHER TAXES [6001 - 61045]

  ( Heading of Division 2 amended by Stats. 1968, Ch. 279. )

PART 13.7. Property Tax Reimbursement Law [31201 - 31203]
  ( Part 13.7 added by Stats. 2017, Ch. 505, Sec. 2. )

31201.
  

This part shall be known and may be cited as the Property Tax Reimbursement Law.

(Added by Stats. 2017, Ch. 505, Sec. 2. (AB 1130) Effective January 1, 2018.)

31202.
  

For purposes of this part, all of the following definitions shall apply:

(a) “Heavy equipment property” means rental property of a qualified heavy equipment renter.

(b) “Qualified heavy equipment renter” means a renter that satisfies both of the following:

(1) The principal business of the renter is the rental of heavy equipment property.

(2) The renter is engaged in a line of business described in Code 532412 or 532310 of the North American Industry Classification System published by the United States Office of Management and Budget, 2012 edition.

(Added by Stats. 2017, Ch. 505, Sec. 2. (AB 1130) Effective January 1, 2018.)

31203.
  

Any property tax reimbursement collected by a qualified heavy equipment renter shall conform to Section 1656.5 of the Civil Code.

(Added by Stats. 2017, Ch. 505, Sec. 2. (AB 1130) Effective January 1, 2018.)

RTCRevenue and Taxation Code - RTC