AN ACT relating to the taxation of rental equipment. Amend KRS 132.010 to define equipment rental inventory; amend KRS 132.020 to add equipment rental inventory to the five cents tax rate; create a new section of KRS Chapter 134 to establish provisions for a one and one-half percent tangible personal property tax recovery fee that an equipment rental company may include in a rental agreement on equipment rental inventory; amend KRS 139.470 to exclude the tangible personal property tax recovery fee from the gross receipts calculation for sales and use tax; EFFECTIVE January 1, 2019.