As used in KRS § 79.325, unless the context otherwise requires:
(1) “Base year collections” means the amount of combined collections received by the city of the first class and the county containing such city in calendar year 1985;
(2) “Collections” means the sums received (excluding penalties and interest) by a city of the first class and the county containing such city in a calendar year from its occupational license fee levy;
(3) “Combined inflation-adjusted base” means the base year collections of the city of the first class and the county containing such city adjusted by the increase or decrease in the consumer price index by using 1985 as the base year. Each year the combined inflation adjusted base shall be computed by multiplying the consumer price index in December of that year by base year collections and dividing the product by the December 1985 consumer price index;
(4) “Consumer price index” means the index for all urban consumers as published by the United States Department of Labor, Bureau of Labor Statistics; and
(5) “Occupational license fees” means license fees levied upon wages and net profits by a city of the first class pursuant to KRS § 91.200 and by the county containing such city pursuant to KRS § 68.180, but shall not include occupational license fees imposed for educational purposes pursuant to KRS Chapter 160, for mass transportation programs pursuant to KRS § 96A.310 to KRS § 96A.370 or license fees or taxes on insurance premiums for the privilege of engaging in the business of insurance.
Effective: July 15, 1986
History: Created 1986 Ky. Acts ch. 77, sec. 3, effective July 15, 1986.