{"data":{"id":"us-ky/krs-79.325","jurisdiction":"us-ky","citation":"KRS 79.325","heading":"Sinking fund apportionment.","body":"(1) Effective the year the compact between the city and the county is entered into\npursuant to KRS 79.310 to 79.330, the sinking fund of the city of the first class shall\ncalculate the distribution of the combined collections from the occupational license\nfees in accordance with the formula established by this section instead of in\naccordance within which jurisdiction the situs of the person or business subject to\nthe tax is located. This section shall not change the manner in which such license\nfees are levied or collected by such city and county and the fees therefor, but merely\ndirects that the combined collections from such license fees be apportioned between\nthe two (2) local governments better to reflect the sharing of responsibilities and\nobligations agreed to by such city and the county in the cooperative compact under\nKRS 79.310 to 79.330.\n(2) If combined collections from occupational license fees in any calendar year are less\nthan or equal to the base year collections, fifty -eight and seven hundred thir ty-five\nthousandths percent (58.735%) of such combined collections shall be apportioned\nto the city of the first class and forty -one and two hundred sixty -five thousandths\npercent (41.265%) of such combined collections shall be apportioned to the county.\n(3) If combined collections are greater than the base year collections but less than the\ncombined inflation -adjusted base, the amount equal to the base year collections\nshall be divided between such city and county in accordance with subsection (2) of\nthis section, and the remainder of combined collections shall be divided so that the\ncity shall be apportioned fifty -nine and seven -tenths percent (59.7%) of such\nremainder and the county shall be apportioned forty and three -tenths percent\n(40.3%) of such remainder.\n(4) If combined collections in any calendar year exceed the combined inflation-adjusted\nbase, the amount of combined collections equal to the combined inflation -adjusted\nbase shall be divided between the city and the county in accordance with subsect ion\n(3) of this section, ten percent (10%) of the combined collections in excess of the\ncombined inflation -adjusted base shall be apportioned in accordance with\nsubsection (5) of this section, and the remaining ninety percent (90%) shall be\napportioned so that fifty -seven and two -tenths percent (57.2%) of the remainder\nshall be apportioned to the city of the first class and forty -two and eight -tenths\npercent (42.8%) of the remainder shall be apportioned to the county.\n(5) Ten percent (10%) of the combined c ollections in excess of the combined inflation\nadjusted base shall be apportioned to the city of the first class or the county in\naccordance within which jurisdiction the growth in combined collections occurred.\nIf the increase in combined collections is a ttributable to increased collections in\nboth jurisdictions, the city and the county shall each be apportioned a percentage of\nthe ten percent (10%) equal to the percentage of the increase in combined\ncollections that is attributable to the increase in collections in its jurisdiction.","path":["KRS Chapter 79"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24806","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:40Z","sha256":"319ed70feda24ce50a463ebab4b6f59dc1e575c596705e60cc35f4ba6b85950f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-79.320","next":"us-ky/krs-79.330"},"notice":"GroundRules: Original legal text. Not legal advice."}