79.320 Definitions for KRS 79.325.

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