132.193 Assessment of possessory interests in tax-exempt personal property -- Lessee's liability. - Kentucky Statutes

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132.193 Assessment of possessory interests in tax-exempt personal property -- Lessee's liability. (1) Leased personal property exempt from taxation when held by a natural person, association, or corporation in connection with a business conducted for profit, shall
be subject to taxation in the same amount and to the same extent as though the
lessee were the owner of the property, except personal property used in vending
stands operated by blind persons under the auspices of the Office for the Blind. (2) Taxes shall be assessed to lessees of exempt personal property and collected in the same manner as taxes assessed to owners of other personal property, except that
taxes due under this section shall not become a lien against the personal property.
When due, such taxes shall constitute a debt due from the lessee to the state, county,
school district, special district, city, urban-county government, charter county,
consolidated local government, or unified local government for which the taxes
were assessed and if unpaid shall be recoverable by the state as provided in KRS
Chapter 134. Effective: January 1, 2010
History: Amended 2009 Ky. Acts ch. 10, sec. 34, effective January 1, 2010. -- Amended 2006 Ky. Acts ch. 211, sec. 16, effective July 12, 2006. -- Repealed and
reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 321, effective July 13, 1990. -- Created
1988 Ky. Acts ch. 146, sec. 1, effective July 15, 1988. Legislative Research Commission Note. (7/13/90) Pursuant to Section 653(2) of 1990 House Bill 940, Acts Ch. 476, the repeal and reenactment of this section by that Act
prevails over its repeal in another Act of the 1990 Regular Session.