Relating to the taxation of certain heavy equipment; and prescribing an effective date.

Imposes tax on rental price of construction, mining, earthmoving or industrial equipment, together with attachments and other equipment and tools, that is mobile and held primarily for rental. Directs Department of Revenue to administer heavy equipment rental tax program. Provides for pro rata distribution of two percent of gross tax revenues among counties that do not otherwise receive qualified heavy equipment rental tax revenues. Provides for distribution to counties of net tax revenues attributable to rentals made from locations in county. Directs county treasurer to distribute tax moneys to local taxing districts in accordance with property tax and interest distribution percentage…