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§ 112.01 IMPOSITION OF LICENSE FEE.
   There is created a license fee to be imposed upon any insurance company with respect to any policy that is not a life insurance policy, based upon seven percent (7%) of the premiums actually collected by the company within each calendar quarter on risk located within the corporate limits of the city, on those classes of business that the company is authorized to transact, less all premiums returned to policyholders. In the event that Metro Louisville shall impose a higher percentage than seven percent (7%), either as a fee or tax, then the rate imposed herein shall be automatically increased to equal but not exceed the rate imposed by Metro Louisville.
(Ord. 288-2021, passed 3-8-21)
§ 112.02 AMOUNT OF FEE.
   In determining the amount of license fee to be collected and paid to the city, the insurance company shall use the tax rate effective on the first day of the policy term.
(Ord. 288-2021, passed 3-8-21)
§ 112.03 TAX RATES.
   When an insurance company collects a premium as a result of the change in the policy during the policy term, the tax rate used shall be the rate in effect on the effective date of the policy change.
(Ord. 288-2021, passed 3-8-21)
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