Section 307.872 - Heavy equipment rental tax; exemption from property tax; no maximum term; rulemaking authority(1) A tax of two percent is imposed on the rental price received for any qualified heavy equipment.(2) The tax imposed under this section shall be collected by the qualified heavy equipment provider from the renter at the time that the rental of the qualified heavy equipment is made.(3) Qualified heavy equipment is exempt from any and all ad valorem property taxes if rental of the qualified heavy equipment is subject to taxation under this section.(4) Notwithstanding ORS 315.037, the exemption granted under subsection (3) of this section does not have a maximum term.(5) The Department of Revenue may adopt rules necessary for the administration and enforcement of the heavy equipment rental tax under ORS 307.870 to 307.890.