(A) There is hereby imposed on each insurance company a license fee for the privilege of engaging in the business of insurance within the unincorporated area of the county from July 1, 2019, and thereafter on a calendar-year basis.
(B) The license fee imposed upon each insurance company issuing life insurance policies on the lives of persons residing within the unincorporated area of the county shall be 9% of the first year’s premiums actually collected within each calendar quarter by reason of the issuance of such policies.
(C) The license fee imposed upon each insurance company issuing any insurance policy that is not a life insurance policy or health insurance policy shall be 9% of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within the unincorporated area of the county on those classes of business it is authorized to transact, less all premiums returned to policyholders. However, any license fee or tax imposed upon premium receipts shall not include premiums received for insuring employers against liability for personal injuries to their employees, or death caused hereby under the provisions of the worker’s compensation act, and shall not include premiums received on policies of group health insurance provided for state employees under KRS 18A.225(2), and all other health insurance premiums.
(D) All license fees imposed by this division shall be due no later than 30 days after the end of each calendar quarter. License fees not paid on or before the due date shall bear interest at the tax interest rate as defined in KRS 131.010(6).
(E) Every insurance company subject to the license fees imposed by this division shall annually, by March 30, furnish the county with a written breakdown of all collections in the preceding calendar year for the following categories of insurance:
(1) Casualty;
(2) Automobile;
(3) Inland marine;
(4) Fire and allied perils;
(5) Life.
(Ord. passed 3-12-2019)