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The license fee or tax imposed by a city upon each insurance company with respect to life insurance policies may be based upon the first year's premiums and shall be applied to the amount of the premiums actually collected within each calendar quarter upon the lives of persons residing within the corporate limits of the city.
(Ord. 2-2019, passed 3-11-19)
(A) The license fee or tax imposed upon each insurance company with respect to any policy which is not a life insurance policy shall be of the premiums actually collected by the insurance company within each calendar quarter on risks located within the corporate limits of the city on those classes of business which the insurance company is authorized to transact, less all premiums returned to policyholders.
(B) The license fee or tax shall also not apply to premiums:
(1) Received on policies of group health insurance provided for state employees under KRS 18A.225;
(2) Received on policies insuring employers against liability for personal injuries to their employees or the death of their employees caused thereby, under the provisions of KRS chapter 342;
(3) Received on health insurance policies issued to individuals;
(4) Received on policies issued through Kentucky Access created in Subtitle 17B of KRS chapter 304;
(5) Received on policies for high-deductible health plans as defined in 26 U.S.C. 223(c)(2);
(6) Received on multi-state surplus lines, defined as non-admitted insurance as provided in Dodd-Frank Wall Street Reform and Consumer Protection Act Pub. L. no. 115-203; or
(7) Paid to insurance companies or surplus lines brokers by non-profit self-insurance groups or self-insurance entities whose membership consists of cities, counties, charter county government, urban-county government, consolidated local government, unified local government, school districts, or any other political subdivisions of the Commonwealth.
(C) No License fee or tax 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 a city, county, charter county government, urban-county government, consolidated local government, special district, non-profit corporation, or other political subdivision of the Commonwealth. However, 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.
(Ord. 2-2019, passed 3-11-19)
(A) All license fees imposed by this chapter shall be due no later than thirty (30) days after the end of each calendar quarter.
(B) Any insurance company or agent that overpays any license fee or tax to a city shall be refunded the amount overpaid. If it is determined that an insurance company or agent paid a license fee or tax to a city based upon premiums collected upon lives or risks which are discovered to be located outside the legal corporate limits of the city which was paid the license fee or tax, the insurance company or agent shall be refunded those license fees and taxes within ninety (90) days' notice to the city paid.
(C) 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) from the date due until paid.
(Ord. 3-1991, passed 3-25-91; Am. Ord. 2-93, passed 2-8-93; Am. Ord. 2-2019, passed 3-4-19)
Every insurance company subject to the license fees imposed by this chapter shall annually, by March 31, furnish the city with a written breakdown of all collections in the preceding calendar year for the following categories of insurance:
(A) Casualty;
(B) Automobile;
(C) Inland marine;
(D) Fire and allied perils;
(E) Health; and
(F) Life.
(Ord. 3-1991, passed 3-25-91; Am. Ord. 2-93, passed 2-8-93; Am. Ord. 2-2019, passed 3-4-19)
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