Definitions

As used in this part: (1) (a) "Heavy equipment" means tangible personal property that: (i) is owned by a qualified rental business for purposes of renting; (ii) is utilized or designed for construction, earthmoving, or industrial operations; and (iii) is portable and transferable to the location in which the heavy equipment is used. (b) "Heavy equipment" includes: (i) lift equipment; (ii) material handling equipment; (iii) cranes; (iv) pumps; (v) generators; (vi) compressors; (vii) portable power equipment; (viii) heating, ventilation, and air conditioning equipment; (ix) portable worksite offices and containers; (x) tank trailers; and (xi) self-propelled equipment. (2) "Program manager" means the same as that term is defined in Section 59-2-1601. (3) "Qualified rental business" means a business entity located in this state: (a) that is classified within one of the following NAICS codes of the 2022 North American Industry Classification System of the federal Executive Office of the President, Office of Management and Budget: (i) NAICS Code 532310, General Rental Centers; or (ii) NAICS Code 532412, Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing; and (b) for which 51% or more of the business entity's total annual revenue is derived from the rental of heavy equipment. (4) "Recovery fee" means the fee authorized in Subsection 59-2-2002(1). (5) "Rental" means the same as the terms "lease" or "rental" are defined in Section 59-12-102. (6) (a) "Rental charge" means the amount charged to a renter by a qualified rental business for the rental of heavy equipment. (b) "Rental charge" does not include any additional charges separate from the actual cost of the rental transaction, including costs required for delivery, insurance, or a waiver of liability. (7) "Renter" means the person to which a qualified rental business rents heavy equipment.