ORDINANCE NO. __________, SERIES 2019
Title
AN ORDINANCE AMENDING CHAPTER XX OF THE LOUISVILLE METRO CODE OF ORDINANCES BY CREATING A NEW SECTION REGARDING THE MOTOR VEHICLE RENTAL LICENSE FEE. (AS AMENDED)
body
SPONSORED BY: COUNCIL PRESIDENT JAMES AND COUNCIL MEMBERS HOLLANDER, WINKLER AND ACKERSON
WHEREAS, The Kentucky Revised Statute ("KRS") ? 68.200 enables Louisville Metro Government to adopt a motor vehicle rental license fee on the rental of motor vehicles as described below;
WHEREAS, Louisville Metro Government faces significant revenue shortfalls as a result of its increased pension obligations to the state; and
WHEREAS, Louisville Metro Council creates a new chapter of Louisville Metro Code of Ordinances to establish a motor vehicle rental license fee on the rental of motor vehicles.
NOW, THEREFORE, BE IT ORDAINED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AS FOLLOWS:
SECTION I: A new chapter of the Louisville Metro Code of Ordinances ("LMCO") is hereby enacted to read as follows: MOTOR VEHICLE RENTAL LICENSE FEE
SECTION II: A new chapter of the LMCO XX is hereby enacted to read as follows:
? XX.01 DEFINITIONS.
For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
GROSS RENTAL CHARGE as defined in KRS ? 138.462(4).
MOTOR VEHICLE as defined in KRS ? 186.010(8)(a).
RETAILER as defined in KRS ? 139.010.
REVENUE COMMISSION. Louisville/Jefferson County Metro Revenue Commission as established in LMCO ? 32.450, et seq.
? XX.02 LEVY OF LICENSE FEE.
Louisville Metro Government hereby levies a motor vehicle rental license fee on the rental of motor vehicles in the amount of 3% of the gross rental charges from rental agreements for periods of 30 days or less (the "license fee"). The license fee applies to rentals by retailers who receive more than 75% of their gross revenues generated in Je...
Click here for full text