No license fee or tax imposed upon premium receipts shall apply to the following:
(A) Policies of group health insurance provided for state employees under KRS 18A.225;
(B) Policies of group health insurance provided for city employees;
(C) Health insurance policies issued to individuals, including policies issued through Kentucky Access;
(D) Worker’s compensation insurance;
(E) Annuities;
(F) Federal flood insurance;
(G) Municipal bonds, leases or other debt instruments issued by or on behalf of the city unless the bonds, leases or other debt instruments are issued for profit or on behalf of for-profit or private organizations;
(H) Policies or high deductible health plans as defined in 26 U.S.C. § 223(c)(2), commonly referred to as Health Savings Accounts;
(I) Policies of insurance, insured or reinsured by the Federal Crop Insurance Corporation, 7 C.F.R. § 400.352(b)(2);
(J) Policies insuring or naming the state or one of its agencies or political subdivisions as an insured and surety bonds where the state or one of its agencies or political subdivisions is the obligee. For the purposes of the city premium tax payments, school districts are considered agencies of the state and policies insuring school districts and bonds with school districts as the obligee are exempt from local, government premium taxes;
(K) Policies issued to public service companies which pay ad valorem taxes;
(L) Entities issued a certificate of authority to do business in Kentucky only as a health maintenance organization pursuant to KRS 304.38-060;
(M) Entities issued a certificate of authority to do business in Kentucky as a captive insurer pursuant to KRS 304.49-010; or
(N) Domestic life insurance companies electing to be taxed under the provisions of KRS 136.320.
(Ord. 2016-02, passed 2-16-2016)