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

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

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

   1. (1) The principal business of the renter is the rental of heavy equipment property.
   2. (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.