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NEWS RELEASE

The City of Hustonville recently amended City Ordinance 35. The ordinance reads as follows:

• Section 1: There is hereby 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 of Hustonville for the calendar year 2023 and thereafter on a calendar year basis.

• Section 2: The license fee imposed upon each insurance company which issues any insurance policy which is not a life insurance or health insurance policy shall be 6%, 9 % of the premiums actually collected within each calendar quarter by reason of the issuance of such policies on risks located within the corporate limits of the City of Hustonville on those classes of businesses which company is authorized to transact less all premiums returned to policy holders: 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 Workers Compensation Act and shall not include premiums received on policies of group health insurance provided for state employees under KRS 18 A.225 (2).

• Section 3: All license fees imposed by this ordinance shall be due no later than thirty (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 defined in KRS 131.010 (6).

• Section 4: Every insurance company subject to the license fees imposed by this ordinance shall annually, by March31, furnish the City of Hustonville 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, and (d) Fire and Allied Perils

Section 5: The city clerk is hereby directed to transmit a copy of this ordinance, and any amendments thereto, to the Commissioner of Insurance, Commonwealth of Kentucky.