(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 part of Kenton County, for the calendar year 2007 and thereafter on a calendar-year basis.
(B) The license fee imposed upon each insurance company that issues any insurance policy shall be 8% of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within Kenton County, specifically excluding the incorporated areas of the City of Bromley, the City of Covington, the City of Crescent Springs, the City of Crestview Hills, the City of Edgewood, the City of Elsmere, the City of Erlanger, the City of Fairview, the City of Fort Mitchell, the City of Fort Wright, the City of Independence, the City of Kenton Vale, the City of Lakeside Park, the City of Ludlow, the City of Park Hills, the City of Ryland Heights, the City of Taylor Mill, the City of Villa Hills, and the City of Walton, on whose classes of business which such company is authorized to transact, less all premiums returned to policy holders. 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, death or injuries caused thereby while under the provisions of the Kentucky Workers’ Compensation Act, non-licensed farm equipment, agricultural-related endorsements, life insurance, health insurance, nor premiums paid to any state employee benefit fund created pursuant to KRS Chapter 18A.
(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 which 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;
(2) Automobile;
(3) Inland marine;
(4) Fire and allied perils.
(E) The Fiscal Court hereby adopts by reference the provisions of KRS 91A.080, which provides for regulation by the Department of Insurance and includes penalties for violation of this subchapter.
(F) All taxes, fees and interest received by the county pursuant to the provisions of this subchapter shall be deposited in a special fund of the county, and used only for the purposes of maintaining and improving roadways and transportation facilities in unincorporated Kenton County as allowed by law.
(G) The Fiscal Court shall incorporate such premium taxes as a revenue line item into the county budget beginning fiscal year 2007-2008.
(Ord. 225.45, passed 2-27-07; Am. Ord. 225.49, passed 12-27-07)