A. Except as provided in subsection B of this section, a company primarily in the business of renting heavy equipment property located in this state may include as a separate line item on the rental invoice a recovery fee of one and twenty-five hundredths percent (1.25%) on the rental charge from any item of heavy equipment property rental by a customer. The total amount of the recovery fee shall be retained by the business for the purposes of paying personal property taxes levied by all taxing jurisdictions against the heavy equipment property located in the state. B. Notwithstanding the provisions of subsection A of this section, the recovery fee provided in this section shall not apply to the rental of heavy equipment property to the federal government, any federally recognized Indian tribe, this state, or any municipality or county of this state. C. The recovery fee shall not be subject to state or local sales tax.
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