(A) The license fee imposed upon each insurance company which issues any insurance policy which is not a life or health 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 Louisville Metro on those classes of business which such company is authorized to transact, less all premiums returned to policyholders. The provisions of this section shall not include premiums received for insuring employers against liability for personal injuries to their employees, or the death of their employees, caused thereby, under the provisions of the Workers' Compensation Act or premiums from policies of health insurance.
(B) No license fee imposed under this section shall apply to premiums paid to insurers of municipal bonds, leases, or other debt instruments issued by or on behalf of the Louisville Metro Government or other political subdivision of the Commonwealth. However, the exemption shall not apply if the bonds, leases, or other debt instruments are issued for profit or on behalf of for-profit or private organizations.
(1994 Jeff. Code, § 122.03) (Jeff. Ord. 10-1990, adopted and effective 7-19-1990; Lou. Metro Am. Ord. No. 2-2003, approved 1-23-2003; Lou. Metro Am. Ord. No. 156-2007, approved 8-13-2007)