In this section the following words have the meanings indicated. “Heavy equipment property” means construction, earthmoving, or industrial equipment that is mobile, including any attachment for the heavy equipment. “Heavy equipment property” includes: a self–propelled vehicle that is not designed to be driven on a highway; and industrial electrical generation equipment, industrial lift equipment, industrial material handling equipment, or other similar industrial equipment. “Short–term lease or rental” means the lease or rental of heavy equipment property for a period of 365 days or less. Except as provided in subsection (c) of this section, there is a tax at a rate of 2% on the gross receipts from the short–term lease or rental of heavy equipment property by a person whose principal business is the short–term lease or rental of heavy equipment property at retail. A person is in the principal business of short–term lease or rental of heavy equipment property if: the largest segment of total rental receipts of the business is from the short–term lease or rental of heavy equipment property; and the business is described under Code 532412 of the North American Industry Classification System as published by the United States Census Bureau. The tax imposed under this section does not apply to: a business located in a county or municipality that does not impose a personal property tax; or a short–term lease or rental of heavy equipment property to the federal government, the State, a county, or a municipality. A person who owns a business with gross receipts subject to the tax under this section shall collect the tax from the rental customer and remit the tax as provided in this subsection. The tax is payable quarterly and due by the last day of the month after the end of the quarter. A person who owns a business with gross receipts subject to the tax under this section shall remit the tax collected to: the county in which the business is located, if that location is not within a municipality; or the county and municipality in which the business is located in proportion to the personal property tax rate of the county and municipality, if that location is within a municipality. Notwithstanding any other law and except as otherwise provided in this section, the gross receipts tax imposed under this section shall be administered and collected according to the laws applicable to the personal property tax under the Tax – Property Article. A person who owns a business with gross receipts subject to the tax under subsection (b) of this section shall submit to the Department of Assessments and Taxation a report on personal property as required under § 11–101 of the Tax – Property Article.