The license fee imposed on each insurance company which issues any insurance policy which is not a life insurance policy shall be 10% of the premiums actually collected within each calendar quarter by reason of the issuance of the policies on risks located within the corporate limits of the city on those classes of business which the company 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 thereby, under the provision 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 18A.228, or premiums received by any state employee benefit fund created pursuant to KRS Chapter 18A for the purpose of providing health benefits to state employees. No license fee imposed under this section shall apply to premiums received on health insurance policies issued to individuals nor to policies issued through Kentucky Access created in KRS 304.17B-005. 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 any political subdivision of the state; provided that this 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.
(KRS 91A.080(3), (10)) (Prior Code KOC, § 220.31, passed 11-4-2002) (Am. Ord. 2008-2, passed 1-7-2008)