What is the “Louisville Metro Revenue Commission?
The Louisville Metro Revenue Commission, formerly known as the “Commissioners of the Sinking Fund”, is a municipal corporation that was created in 1851 by act of the Kentucky General Assembly as the bond servicing agent for the City of Louisville’s general obligation debt. It has been in continuous service since that time. The term ‘SINKING FUND’ is an accounting term used to describe an account in which money is accumulated in order to pay off the debt on general obligation bonds when the bonds mature. The amount of bonded indebtedness “sinks” as the account grows in value. The Louisville Metro Revenue Commission still services the City’s bonded indebtedness, but its most important function is to collect occupational license fees/taxes on behalf of Louisville Metro Government, the Jefferson County Board of Education, the Anchorage Board of Education, and the Transit Authority of River City (TARC). The Revenue Commission also issues various special licenses and collects the tax imposed
