HB 371/LM (BR 1499) - A. Simpson
AN ACT relating to local insurance premium taxes and fees.
Amend KRS 91A.080 to specifically authorize the levy of local insurance premium taxes; provide that counties may levy a tax only in the unincorporated areas of the county; allow different rates and fee structures for different lines of insurance; require that requests for a refund or credit of taxes overpaid be in writing and be filed within two years of the tax due date; require that any refunds received by an insurance company be passed on to the policyholders; to require insurance premiums tax returns to be audited and any additional taxes assessed within two years from the statutory filing date, except in the case of a fraudulent return or a failure to file; provide that if a county levies the tax only in the unincorporated portion of the county, that there shall be no offset of the city license fee against the county license fee.
Feb 8-introduced in House
Feb 12-to Local Government (H)
Feb 15-posted in committee