Pursuant to the authority of Section 181 of the Kentucky Constitution and KRS 91A.080 and 92.281, there is hereby imposed and levied upon insurance companies that are engaged in the business of insurance in the city, the following described license fees or taxes for the privilege thereof.
(A) Purpose. The purpose of the license fee or tax imposed is to provide revenue for the general operating expenses of the city. All receipts thereof shall be deposited in the General Fund.
(B) Exempt premiums. Premiums on the following described policies of insurance shall be exempt from the license fee or tax:
(1) Worker's Compensation Insurance;
(2) Group health insurance provided for state employees under KRS 18A.225;
(3) Policies issued to public service companies which pay ad valorem taxes;
(4) Health insurance policies issued to individuals; and
(5) Health insurance policies issued through Kentucky Access created in KRS 304.17B-005.
(C) Credit against county license fees or taxes. Pursuant to KRS 91A.090 (12), insurance companies which pay license fees or taxes pursuant to this chapter shall credit those license fees or taxes against the same license fees or taxes levied by Kenton County on or after July 13, 1990.
(Ord. 1-4-78, passed 4-13-78; Am. Ord. 1-5-88, passed 6-20-88; Am. Ord. 220 (3-9-05), passed 3-9-05)