Effective 1-1-2019.

1. (1) "Department" refers to the department of state revenue.
2. (2) "Gross retail income" has the meaning set forth in IC 6-2.5-1-5 , except that the term does not include taxes imposed under IC 6-2.5 or the excise tax imposed under this chapter.

3. (3) "Heavy rental equipment" means personal property (including attachments used in conjunction with the personal property):

   1. (A) that is owned by a person or business that:

      1. (i) is classified under 532412 of the North American Industry Classification System Manual in effect on January 1, 2018; and
      2. (ii) is a retail merchant in the business of renting heavy equipment, including any attachments;
   2. (B) is not intended to be permanently affixed to any real property; and

   3. (C) is not subject to registration under IC 9-18.1 for use on a public highway (as defined in IC 9-25-2-4 ).

      However, the term does not include heavy rental equipment that is rented for mining purposes or heavy rental equipment that is eligible for a property tax abatement deduction under IC 6-1.1-12.1 during the calendar year.

4. (4) "Person" has the meaning set forth in IC 6-2.5-1-3 .

5. (5) "Rental" means any transfer of possession or control of heavy rental equipment for consideration:

   1. (A) for a period not to exceed three hundred sixty-five (365) days; or
   2. (B) for a period that is open ended under the terms of the rental contract with no specified end date.
6. (6) "Retail merchant" has the meaning set forth in IC 6-2.5-1-8 .

Sec. 2. The following definitions apply throughout this chapter:

As added by P.L.188-2018, SEC.3.