SS HB 616, 2015 (New Section - as Truly Agreed)
137.018. 1. As used in this section, the term "merchandise"
shall include short term rentals of equipment and other merchandise
offered for short term rentals by rental companies under 532412
or 532210 of the 2012 edition of the North American Industry
Classification System as prepared by the Executive Office of
the President, Office of Management and Budget, which will subsequently
or ultimately sell such merchandise or equipment. As used in
this section, the term "short term rental" shall mean rentals
for a period of less than three hundred sixty-five consecutive
days, for an undefined period, or under an open-ended contract.
2. For the purposes of article X, section 6 of the Constitution of Missouri, all merchandise held or owned by a merchant whether or not currently subject to a short term rental and which will subsequently or ultimately be sold shall be considered inventory and exempt from ad valorem taxes.