(A) The license fee imposed upon each insurance company which issues any insurance policy which is not a life insurance policy shall be 5% of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within the corporate limits of the city on whose classes of business which such company is authorized to transact, less all premiums returned to policy holders. In the event that Metro Louisville shall impose a higher percentage than 5%, either as a fee or tax, then the rate imposed herein shall be automatically increased to equal but not exceed the rate imposed by Metro Louisville.
(B) Any license fee or tax imposed upon premium receipts shall not include premiums received for insuring employers against liability for personal injuries to their employers, or death caused thereby, under the provisions of KRS Chapter 324, the Worker’s Compensation Act and shall not include premiums received on policies of group health insurance provided for state employees under KRS Chapter 18.
(Ord. 1, Series 2001, passed 1-11-2001; Ord. 8, Series 2015, passed 2-12-2015; Ord. 1, Series 2019, passed 3-14-2019)