AB 1130: Heavy equipment rentals.

Existing law prescribes the manner in which contracts or agreements may be created.

This bill would establish, in a rental agreement of heavy equipment property by a qualified heavy equipment renter, a rebuttable presumption that the parties agreed to the addition of estimated personal property tax reimbursement to the rental price of heavy equipment property to a lessee if specified conditions occur.

This bill would establish the Property Tax Reimbursement Law that would require that any property tax reimbursement that is collected by a qualified heavy equipment renter be collected pursuant to the conditions described above.