(A) An additional insurance license fee is imposed upon and shall be collected from insurance companies within Daviess County, but outside the City of Owensboro and the City of Whitesville, for the privilege of engaging in the business of insurance. Effective July 1, 2024, the license fee upon imposed and collected from insurance companies for casualty (but excluding rain and hail insurance premiums on crops), automobile, inland marine, fire and allied perils insurance shall be 1.1%.
(B) The license fee imposed upon each insurance company issuing an insurance policy that is not a life insurance policy shall be 1.1% of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within Daviess County, but outside the corporate limits of the City of Owensboro and the City of Whitesville, on those classes of businesses that it is authorized to transact, less all premiums returned to policy holders. However, the license fee or tax imposed shall not apply to premiums received on:
(1) Policies of group health insurance provided for state employees under KRS 18A.225;
(2) Policies insuring employers against liability for personal injuries to their employees, or death of their employees caused thereby, under the provisions of KRS Chapter 342;
(3) Health Insurance policies issued to groups and individuals;
(4) Policies issued through Kentucky Access created in Subtitle 17B of KRS Chapter 304;
(5) Policies for high deductible health plans as defined in 26 U.S.C. § 223(c)(2).
(C) All license fees imposed by this section shall be due no later than 30 days after the end of each calendar quarter. License fees that are not paid on or before the due date shall bear interest at the tax interest rate as defined in KRS 131.010(6).
(D) Every insurance company subject to the license fees imposed by this section shall annually, by March 31, furnish the county with a written breakdown of all collections in the preceding calendar year for the following categories of insurance:
(1) Casualty, but excluding rain and hail premiums on crops;
(2) Automobile;
(3) Inland marine;
(4) Fire and allied perils; and
(5) Health.
(E) All revenues derived from this section shall be deposited in the General Fund of the County Fiscal Court to fund fire protection services and protection to persons and property expenditures in the county.
(Ord. 220.37 (2023), passed 11-14-2023)