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) "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 <br>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 <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) "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 <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.
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