Taxation; farm equipment; requiring certain entities to pay tax in lieu of ad valorem. Effective date.

SB 2144 creates a new tax in lieu of annual property tax for certain farm equipment. It requires retailers of farm equipment (including non-franchised dealers) and entities operating qualifying equipment to pay a flat tax based on the equipment's value, ranging from $6 to $108 depending on price brackets starting at $500. The tax replaces the standard property tax on this equipment but does not affect other property taxes, and dealers must affix tax stamps to sales invoices while maintaining logs for county assessors to inspect. The bill excludes repair parts and equipment sold through consignment or auctions, which remain subject to standard property tax.