(A) There is imposed on each insurance company a license fee for the privilege of engaging in the business of insurance within the corporate limits of the city, on a calendar-year basis.
(B) The license fee imposed upon each insurance company which issues life insurance policies on the lives of persons residing within the corporate limits of the city shall be 2% of the first year’s premiums actually collected within each calendar quarter by reason of the issuance of the policies.
(C) The license fee imposed upon each insurance company which issues any insurance policy which is not a life insurance policy shall be 5% of the premiums actually collected except health insurance, which shall be 2% of the premiums 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 provisions 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) or premiums paid to any self-funded health insurance program for state employees created pursuant to KRS Chapter 18A.
(D) All license fees imposed by this section shall be due no later than 30 days after the end of each calendar quarter. 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).
(E) Every insurance company subject to the license fees imposed by this section shall annually, by March 31, furnish the city a written breakdown of all collections in the preceding calendar year for the following categories of insurance:
