§ 112.05 EXCEPTIONS.

   (A)   Any license fee or tax imposed upon premium receipts shall not include premiums on the following:

      (1)   Premiums received for insurance paid by employers against liability for personal injuries to their employees or death caused thereby under the provisions of the Workers Compensation Act; or

      (2)   Premiums received on policies of group health insurance provided for state employees under KRS 18A.225(2); or

      (3)   Any employer who locates or relocates their corporate domicile within the city limits under the following terms and conditions, all of which shall be verified by the employer at the request of the city:

            (a)   The employer maintains annual gross revenues in excess of $100,000,000.00; and

            (b)   The employer employs no less than 100 full-time equivalent employees that are considered employees within the city limits; and

            (c)   The employer is engaged in interstate transportation, which is regulated by the United States Department of Transportation; and

            (d)   The corporate domicile is located and remains continuously within the city limits. For the purpose of this chapter, the term "CORPORATE DOMICILE" shall mean the place considered by law as the center of corporate affairs, where the corporation's functions are discharged; the legal home of a corporation.

   (B)   Upon compliance with all the conditions as stipulated within division (A)(3), the employer shall be exempt from this license fee on the employers' insurance policies to include automobile liability, cargo, employment practices liability, directors and officers coverage, fiduciary coverage, crime, cyber liability, general liability and brokerage coverages premiums and any premiums for real and personal property. All other insurance premiums eligible for the license fee tax shall be assessed at the rate established in § 112.02 .

   (C)   During any fiscal year that an employer fails to maintain any of the requirements for exemption pursuant to this section, the tax imposed by § 112.02 shall be assessed to said employer. Employer shall submit proof of exemption annually.

(Ord. 2020-1801, passed 10-8-20)