Pursuant to KRS Chapter 136, there is hereby imposed on each financial institution, as defined in §
220-15, located within the jurisdiction of Henderson County, a franchise tax measured by the deposits in such institutions. All moneys collected pursuant to this article shall be paid into the general fund of the County to be used for the payment of proper expenditures as determined by the Fiscal Court.
For the purpose of this article, the following definitions shall
apply unless the context clearly indicates or requires a different
meaning:
DEPOSITS
All demand and time deposits, excluding deposits of the United
States government, state and political subdivisions, other financial
institutions, public libraries, educational institutions, religious
institutions, charitable institutions and certified and officers'
checks.
FINANCIAL INSTITUTION
A.
A national bank organized and existing as a body corporation
and existing or in the process of organizing as a national bank association
pursuant to the provisions of the National Bank Act, 12 U.S.C. § 21
et seq., in effect on December 31, 1997, exclusive of any amendments
made subsequent to that date;
B.
Any bank or trust company incorporated or organized under the
laws of any state, except a banker's bank organized under KRS 286.3-135;
C.
Any corporation organized under the provisions of 12 U.S.C.
§§ 611 to 631, in effect on December 31, 1997, exclusive
of any amendments made subsequent to that date, or any corporation
organized after December 31, 1997, that meets the requirements of
12 U.S.C. §§ 611 to 631, in effect on December 31,
1997; or
D.
Any agency or branch of a foreign depository as defined in 12
U.S.C. § 3101, in effect on December 31, 1997, exclusive
of any amendments made subsequent to that date, or any agency or branch
of a foreign depository established after December 31, 1997, that
meets the requirements of 12 U.S.C. § 3101 in effect on
December 31, 1997.