The present tax imposed upon insurance premium receipts shall not apply to the following:
(A) Policies of employee group health insurance regardless of whether such policies are provided for state employees, local governmental employees, municipal employees or employees engaged in the various private sector operations;
(B) Health insurance policies issued to individuals including policies issued through Kentucky Access;
(C) Worker’s compensation insurance;
(D) Annuities;
(E) Federal flood insurance;
(F) Municipal bonds, leases, or other debt instruments issued by or on behalf of the county unless the bonds, leases, or other debt instruments are issued for profit or on behalf of for-profit or private organizations;
(G) Policies of high deductible health plans as defined in 26 U.S.C. § 223(c)(2), commonly referred to as health savings accounts;
(H) Policies of insurance, insured or reinsured by the Federal Crop Insurance Corporation, 7 CFR 400.352(b)(2);
(I) 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 local government 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;
(J) Policies issued to public service companies which pay ad valorem taxes;
(K) Entities issued a certificate of authority to do business in Kentucky only as a health maintenance organization pursuant to KRS 304.38-060;
(L) Entities issued a certificate of authority to do business in Kentucky as a captive insurer pursuant to KRS 304.49-010;
(M) Domestic life insurance companies electing to be taxed under the provisions of KRS 136.320;
(N) Fraternal benefit societies pursuant to KRS 304.29-241.
(Ord. 2020-01, passed 2-10-2020)