Kentucky Statutes > Chapter 14A – Kentucky Business Entity Filing Act

		Sections
Subchapter 1	General Provisions	14A.1-010 – 14A.1-070
Subchapter 2	Filing Requirements	14A.2-010 – 14A.2-165
Subchapter 3	Business Entity Names	14A.3-010 – 14A.3-050
Subchapter 4	Registered Office and Agent	14A.4-010 – 14A.4-060
Subchapter 5	Principal Office Address	14A.5-010
Subchapter 6	Annual Reports	14A.6-010
Subchapter 7	Administrative Dissolution	14A.7-010 – 14A.7-040
Subchapter 8	End of Duration	14A.8-010
Subchapter 9	Foreign Business Entities	14A.9-010 – 14A.9-090

Terms Used In Kentucky Statutes > Chapter 14A - Kentucky Business Entity Filing Act

Above-the-line production crew: means employees involved with the production of a motion picture or entertainment production whose salaries are negotiated prior to commencement of production, such as actors, directors, producers, and writers. See Kentucky Statutes 154.61-010
Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
Activation date: means a date selected by an approved company and set forth in the jobs retention agreement at any time within a three (3) year period after the date of final approval of the agreement by the authority upon which the required investment shall be made and the jobs retention project completed. See Kentucky Statutes 154.25-010
Activation date: means the date on which an approved company begins incurring recoverable costs or engaging in recoverable activity pursuant to the tax incentive agreement. See Kentucky Statutes 154.27-010
Activation date: means :
(a) For all projects except those described in paragraph (b) of this subsection, the date established any time within a two (2) year period after the commencement date. See Kentucky Statutes 154.30-010
Activity and use limitations: means restrictions or obligations created under
KRS §. See Kentucky Statutes 224.80-100
Advanced recycling: means a manufacturing process for the conversion of post-use polymers and recovered feedstocks into basic hydrocarbon raw materials, feedstocks, chemicals, and other products through processes that include pyrolysis, gasification, depolymerization, catalytic cracking, reforming, hydrogenation, solvolysis, and other similar technologies. See Kentucky Statutes 224.1-010
Advanced recycling facility: means a manufacturing facility that receives, stores, and converts post-use polymers and recovered feedstocks it receives using advanced recycling. See Kentucky Statutes 224.1-010
Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Agency: means :
(a) An urban renewal and community development agency established under
KRS Chapter 99. See Kentucky Statutes 154.30-010
Agreement: means a jobs retention agreement entered into pursuant to KRS
154. See Kentucky Statutes 154.25-010
Air pollution: means the presence in the outdoor atmosphere of one (1) or more air contaminants in sufficient quantities and of such characteristics and duration as is or threatens to be injurious to human, plant, or animal life, or to property, or which unreasonably interferes with the comfortable enjoyment of life or property. See Kentucky Statutes 224.1-010
Allegation: something that someone says happened.
Alternative fuel facility: means a facility located in Kentucky that is newly constructed on or after August 30, 2007, or an existing facility located in Kentucky that is retrofitted or upgraded on or after August 30, 2007, and that, after the new construction, retrofit, or upgrade, primarily produces for sale alternative transportation fuels. See Kentucky Statutes 154.27-010
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Animal: includes every warm-blooded living creature except a human being. See Kentucky Statutes 446.010
Animated production: means a nationally distributed feature-length film created with the rapid display of a sequence of images using 2-D or 3-D graphics of artwork or model positions in order to create an illusion of movement. See Kentucky Statutes 154.61-010
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
Appraisal: A determination of property value.
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
Approved company: means an eligible company approved for incentives provided under KRS §. See Kentucky Statutes 154.61-010
Approved company: means any eligible company approved by the authority pursuant to KRS §. See Kentucky Statutes 154.25-010
Approved company: means a corporation, limited liability company, partnership, registered limited liability partnership, sole proprietorship, business trust, or any other entity approved for incentives for an eligible project. See Kentucky Statutes 154.27-010
Approved company: means an eligible company that has received approval from the authority for a sales and use tax incentive under this subchapter. See Kentucky Statutes 154.31-010
Approved company: means an eligible company approved under KRS §. See Kentucky Statutes 154.34-010
Approved costs: means that portion of the eligible costs approved by the authority that an approved company may recover through the inducements authorized by KRS §. See Kentucky Statutes 154.25-010
Approved costs: means :
(a) Obligations incurred for labor and to vendors, contractors, subcontractors, builders, suppliers, deliverymen, and materialmen in connection with the acquisition, construction, equipping, rehabilitation, and installation of an economic revitalization project. See Kentucky Statutes 154.26-010
Approved costs: means the eligible equipment and related costs approved by the authority that may be recovered by an approved company through the incentives authorized by this subchapter. See Kentucky Statutes 154.34-010
Approved public infrastructure costs: includes but is not limited to costs incurred for the following:
(a) Land preparation, including demolition and clearance work. See Kentucky Statutes 154.30-010
Approved signature project costs: means :
(a) The acquisition of land for portions of the project that are for infrastructure. See Kentucky Statutes 154.30-010
area: means any geographical area established or designated by the cabinet in accordance with the provisions of this chapter. See Kentucky Statutes 224.1-010
Arrest: Taking physical custody of a person by lawful authority.
Articles of incorporation: include amended and restated articles of incorporation and articles of merger. See Kentucky Statutes 271B.1-400
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Attorney: means attorney-at-law. See Kentucky Statutes 446.010
Authority: means the Kentucky Economic Development Finance Authority. See Kentucky Statutes 154.60-010
Authority: means the Kentucky Communications Network Authority. See Kentucky Statutes 154.15-010
Authority: means the Kentucky Economic Development Finance Authority created by KRS §. See Kentucky Statutes 154.25-010
Authority: means the Kentucky Economic Development Finance Authority created by KRS §. See Kentucky Statutes 154.26-010
Authority: means the Kentucky Economic Development Finance Authority established by KRS §. See Kentucky Statutes 154.27-010
Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
Authority: means the Kentucky Economic Development Finance Authority. See Kentucky Statutes 154.31-010
Authorized shares: means the shares of all classes a domestic or foreign corporation is authorized to issue. See Kentucky Statutes 271B.1-400
Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Base amount: means the tons of coal, thousand (1000) cubic foot units (Mcf) of natural gas, or gallons of natural gas liquids purchased and used or severed and used by the approved company as feedstock for an eligible project during the twelve (12) months prior to the month in which the approved company first begins receiving incentives under KRS §. See Kentucky Statutes 154.27-010
Base employment: means :
(a) For the first application for which credits are approved, the number of full- time employees employed on the day prior to the work start date of the new employee filling the earliest eligible position identified on the application. See Kentucky Statutes 154.60-010
Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
Below-the-line production crew: includes but is not limited to:
(a) Casting assistants. See Kentucky Statutes 154.61-010
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Bequest: Property gifted by will.
Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
blockchain: means shared or distributed data structures or digital ledgers governed by consensus protocols and maintained by peer-to-peer networks that:
(a) Store digital transactions. See Kentucky Statutes 154.27-010
Board: means the Board of the Kentucky Communications Network Authority. See Kentucky Statutes 154.15-010
Board: means the executive board of Shaping Our Appalachian Region, Inc. See Kentucky Statutes 154.33-510
Board: means the governance board of the Kentucky Science and Technology
Council, Inc. See Kentucky Statutes 154.35-010
branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
Business: includes every trade, occupation, and profession. See Kentucky Statutes 14A.1-070
Business trust: includes , except when utilized in KRS Chapter 386, a "statutory trust" as organized under KRS Chapter 386A. See Kentucky Statutes 446.010
Business trust: means a business trust governed as to its internal affairs by KRS Chapter 386 or a statutory trust governed as to its internal affairs by KRS Chapter
386A. See Kentucky Statutes 14A.1-070
Cabinet: means the Cabinet for Economic Development. See Kentucky Statutes 154.61-010
Cabinet: means the Energy and Environment Cabinet. See Kentucky Statutes 224.80-100
Cabinet: means the Cabinet for Economic Development as established under KRS
12. See Kentucky Statutes 154.1-010
Cabinet: means the Energy and Environment Cabinet. See Kentucky Statutes 224.1-010
Cabinet: means the Cabinet for Economic Development. See Kentucky Statutes 154.35-010
Capital investment: means :
1. See Kentucky Statutes 154.27-010
Capital investment: means :
(a) Obligations incurred for labor and to contractors, subcontractors, builders, and materialmen in connection with the acquisition, construction, installation, equipping, and rehabilitation of a project. See Kentucky Statutes 154.30-010
Capital offense: A crime punishable by death.
Carbon capture ready: means planning for or anticipating capture of carbon dioxide in a manner to facilitate continued operation of the facility in compliance with applicable federal requirements. See Kentucky Statutes 154.27-010
Carbon dioxide transmission pipeline: means the in-state portion of a pipeline, including appurtenant facilities, property rights, and easements, that is used exclusively for the purpose of transporting carbon dioxide to a point of sale, storage, or other carbon management applications. See Kentucky Statutes 154.27-010
Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
Center: means either or both of the following as the context requires:
(a) "Basic research centers" which means centers under contract with the
University of Kentucky and the University of Louisville. See Kentucky Statutes 154.35-010
Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
(a) Sending the document or package. See Kentucky Statutes 446.010
Chambers: A judge's office.
Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
City: includes town. See Kentucky Statutes 446.010
Closure: means the time at which a waste treatment, storage, or disposal facility permanently ceases to accept wastes, and includes those actions taken by the owner or operator of the facility to prepare the site for post-closure monitoring and maintenance or to make it suitable for other uses. See Kentucky Statutes 224.1-010
Coal mining and processing: means activities resulting in the eligible company being subject to the tax imposed by KRS Chapter 143. See Kentucky Statutes 154.26-010
Coal severing and processing: means activities resulting in the eligible company being subject to the tax imposed by KRS Chapter 143. See Kentucky Statutes 154.31-010
Coal severing and processing: means activities resulting in an eligible company being subject to the tax imposed by KRS Chapter 143. See Kentucky Statutes 154.34-010
Commencement date: means the final approval date or the date on which a tax incentive agreement is executed. See Kentucky Statutes 154.30-010
Commercial mining of cryptocurrency: means the process through which blockchain technology is used to mine cryptocurrency at a cryptocurrency facility, and includes the process through which blockchain transactions are verified and accepted by adding the transactions to a blockchain ledger, which involves solving complex mathematical cryptographic problems associated with a block containing transaction data. See Kentucky Statutes 154.27-010
Commercial solid waste: means all types of solid waste generated by stores, offices, restaurants, warehouses, and other service and nonmanufacturing activities, excluding tire-derived fuel and household and industrial solid waste. See Kentucky Statutes 224.1-010
Commissioner: means the commissioner of the Department for Local
Government. See Kentucky Statutes 154.33-510
Committee substitute: Short for committee amendment in the nature of a substitute.
Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.61-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.25-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.26-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.27-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.30-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.33-510
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.34-010
Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.35-010
Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
Compensation: means compensation included in adjusted gross income as defined in KRS §. See Kentucky Statutes 154.61-010
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Compost: means solid waste which has undergone biological decomposition of organic matter, been disinfected using composting or similar technologies, been stabilized to a degree which is potentially beneficial to plant growth and which is approved for use or sale as a soil amendment, artificial topsoil, growing medium amendment, or other similar uses. See Kentucky Statutes 224.1-010
Composting: means the process by which biological decomposition of organic solid waste is carried out under controlled aerobic conditions, and which stabilizes the organic fraction into a material which can easily and safely be stored, handled, and used in an environmentally acceptable manner:
(a) "Composting" may include a process which creates an anaerobic zone within the composting material. See Kentucky Statutes 224.1-010
Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
Conspicuous: means so written that a reasonable person against whom the writing is to operate should have noticed it. See Kentucky Statutes 271B.1-400
Construction period: means the period beginning with the activation date of the eligible project and ending on a date set forth in the tax incentive agreement, which shall be no later than five (5) years from the activation date. See Kentucky Statutes 154.27-010
Continuance: Putting off of a hearing ot trial until a later time.
Continuous film production: means a motion picture or entertainment production that:
(a) 1. See Kentucky Statutes 154.61-010
Contract: A legal written agreement that becomes binding when signed.
Contracting university: means any of the following that contract with the council to operate a center: the University of Kentucky, the University of Louisville, Eastern Kentucky University, Western Kentucky University, Morehead State University, Northern Kentucky University, Murray State University, and Kentucky State University. See Kentucky Statutes 154.35-010
Conviction: A judgement of guilt against a criminal defendant.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
Corporation: means a business corporation governed as to its internal affairs by KRS Chapter 271B, a cooperative or association governed as to its internal affairs by KRS Chapter 272, a nonprofit corporation governed as to its internal affairs by KRS Chapter 273, and a rural electric or rural telephone cooperative corporation governed as to its internal affairs by KRS Chapter 279. See Kentucky Statutes 14A.1-070
Cost of a project: means the cost of the acquisition, construction, reconstruction, conversion, or leasing of any industrial, commercial, health care, agricultural, or forestry enterprise, or any part thereof, to carry out the purposes and objectives of this chapter, including but not limited to acquisition of land or interest in land, buildings, structures, or other planned or existing planned improvements to land, including leasehold improvements, machinery, equipment, or furnishings. See Kentucky Statutes 154.1-010
Council: means the Kentucky Science and Technology Council, Inc. See Kentucky Statutes 154.35-010
County: means any county, consolidated local government, charter county, unified local government, or urban-county government. See Kentucky Statutes 154.30-010
CPI: means the nonseasonally adjusted Consumer Price Index for all urban consumers, all items, base year computed for 1982 to 1984 equals one hundred (100), published by the United States Department of Labor, Bureau of Labor Statistics. See Kentucky Statutes 154.30-010
Cryptocurrency: means a type of virtual currency that utilizes blockchain technology and that:
(a) Can be digitally traded between users. See Kentucky Statutes 154.27-010
Cryptocurrency facility: means a facility located in the Commonwealth that is utilized in the commercial mining of cryptocurrency or in hosting persons engaged in the commercial mining of cryptocurrency through utilization of the facility's infrastructure, including servers and network hardware powered by Internet bandwidth, electricity, and other services generally required for such mining operations. See Kentucky Statutes 154.27-010
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Deed: The legal instrument used to transfer title in real property from one person to another.
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
delivery: means any method of delivery used in conventional commercial practice, including delivery by hand, mail, commercial delivery, and electronic transmission. See Kentucky Statutes 271B.1-400
Department: means the Department of Revenue. See Kentucky Statutes 154.27-010
Department: means the Department of Revenue. See Kentucky Statutes 154.30-010
Department: means the Department of Revenue. See Kentucky Statutes 154.31-010
Department: means the Department of Revenue. See Kentucky Statutes 154.34-010
Dependent: A person dependent for support upon another.
Depolymerization: means a manufacturing process where post-use polymers are broken into smaller molecules such as monomers and oligomers or raw, intermediate, or final products, plastics and chemical feedstocks, basic and unfinished chemicals, waxes, lubricants, coatings, and other basic hydrocarbons. See Kentucky Statutes 224.1-010
Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
Development area: means an area established under KRS §. See Kentucky Statutes 154.30-010
Devise: To gift property by will.
Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
Disposal: means the discharge, deposit, injection, dumping, spilling, leaking, or placing of any waste into or on any land or water so that such waste or any constituent thereof may enter the environment or be emitted into the air or discharged into any waters, including ground waters. See Kentucky Statutes 224.1-010
Distribution: means a direct or indirect transfer of money or other property (except its own shares) or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See Kentucky Statutes 271B.1-400
District: means an air pollution control district as provided for in KRS Chapter 77. See Kentucky Statutes 224.1-010
Documentary: means a production based upon factual information and not subjective interjections. See Kentucky Statutes 154.61-010
Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
Donor: The person who makes a gift.
Economic development project: means :
(a) 1. See Kentucky Statutes 154.31-010
Effluent limitations: means any restrictions or prohibitions established under state
law which include, but are not limited to, effluent limitations, standards of
performance for new sources, and toxic effluent standards on quantities, rates, and concentrations of chemical, physical, biological, and other constituents which are discharged into waters. See Kentucky Statutes 224.1-010
Electronic processing: means the use of technology having electronic, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities, now in existence or later developed to perform a service or technology activity. See Kentucky Statutes 154.31-010
electronically transmitted: means any process of communication not directly involving the physical transfer of paper that is suitable for the retention, retrieval, and reproduction of information by the recipient. See Kentucky Statutes 271B.1-400
electronically transmitted: means any process of communication not directly involving the physical transfer of paper that is suitable for the retention, retrieval, and reproduction of information by the recipient. See Kentucky Statutes 14A.1-070
Eligible company: means any person that intends to film or produce a motion picture or entertainment production in the Commonwealth. See Kentucky Statutes 154.61-010
Eligible company: means any corporation, limited liability company, partnership, limited partnership, sole proprietorship, business trust, or any other entity that has been operating within the Commonwealth on a continuous basis for at least sixty (60) months preceding the request for approval by the authority of the project which meets the standards set forth in KRS §. See Kentucky Statutes 154.25-010
Eligible company: means any corporation, limited liability company, partnership, limited partnership, sole proprietorship, business trust, or any other entity:
(a) Employing or intending to employ full-time a minimum of twenty-five (25) persons engaged in manufacturing or agribusiness operations at the same facility, whether acquired, owned, or leased, located and operating within the Commonwealth on a permanent basis for a reasonable period of time preceding the request for approval by the authority of an economic revitalization project, including facilities where manufacturing or agribusiness operations has been temporarily suspended and which meets the standards promulgated by the authority pursuant to KRS §. See Kentucky Statutes 154.26-010
Eligible company: means any corporation, limited liability company, partnership, limited partnership, sole proprietorship, business trust, or other legal entity with a proposed economic development project that is primarily engaged in or planning to be engaged in one (1) or more of the following activities within the Commonwealth:
1. See Kentucky Statutes 154.31-010
Eligible costs: means :
(a) Obligations incurred for labor and to vendors, contractors, subcontractors, builders, suppliers, deliverymen, and materialmen in connection with the acquisition, construction, equipping, rehabilitation, and installation of a
jobs retention project. See Kentucky Statutes 154.25-010
Eligible equipment and related costs: means :
1. See Kentucky Statutes 154.34-010
Eligible position: means each position that:
(a) Is filled by a full-time employee and that increases the total employment of the small business above its base employment. See Kentucky Statutes 154.60-010
Eligible project: means :
(a) An alternative fuel facility or a gasification facility meeting the investment requirements of KRS §. See Kentucky Statutes 154.27-010
Employee: includes an officer but not a director. See Kentucky Statutes 271B.1-400
Energy-efficient alternative fuel facility: means a facility located in Kentucky that is newly constructed on or after August 30, 2010, or an existing facility located in Kentucky that is retrofitted or upgraded on or after August 30, 2010, and that, after the new construction, retrofit, or upgrade, will produce for sale energy-efficient alternative fuels. See Kentucky Statutes 154.27-010
Energy-efficient alternative fuels: means homogeneous fuels that:
(a) Are produced from processes designed to densify feedstock coal, waste coal, or biomass resources. See Kentucky Statutes 154.27-010
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Entity: includes a domestic or foreign corporation. See Kentucky Statutes 271B.1-400
Entity: means a corporation, business or statutory trust, partnership, limited partnership, limited liability company, limited cooperative association, or unincorporated nonprofit association, governed as to its internal affairs by the laws of the Commonwealth of Kentucky. See Kentucky Statutes 14A.1-070
Environmental covenant: means a servitude arising under an environmental response project that imposes activity and use limitations. See Kentucky Statutes 224.80-100
Environmental response project: means a plan or work performed for the environmental remediation of real property conducted:
(a) Under a federal or state program governing environmental remediation of real property including programs established pursuant to KRS §. See Kentucky Statutes 224.80-100
Equipment: means manufacturing machinery equipment, computers, furnishings, fixtures, and other assets installed by the approved company as part of the reinvestment project. See Kentucky Statutes 154.34-010
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
Escrow: Money given to a third party to be held for payment until certain conditions are met.
Estimated labor component: means the projected percentage of the total capital investment attributable to labor. See Kentucky Statutes 154.27-010
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Ex officio: Literally, by virtue of one's office.
Executive director: means the chief administrator of Shaping Our Appalachian Region, Inc. See Kentucky Statutes 154.33-510
Executive session: A portion of the Senate's daily session in which it considers executive business.
Facility: means a single location within the Commonwealth at which machinery and equipment are used:
1. See Kentucky Statutes 154.27-010
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Feature-length film: means a live-action or animated production that is:
(a) More than thirty (30) minutes in length. See Kentucky Statutes 154.61-010
Federal: refers to the United States. See Kentucky Statutes 446.010
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Fiduciary: A trustee, executor, or administrator.
Final approval: means the action taken by the authority authorizing the eligible company to receive inducements under this subchapter. See Kentucky Statutes 154.25-010
Final approval: means the action taken by the authority authorizing the eligible company to receive inducements under this subchapter. See Kentucky Statutes 154.26-010
Final approval: means the action taken by the authority designating a preliminarily approved eligible company as an approved company to receive incentives under this subchapter. See Kentucky Statutes 154.34-010
Financing costs: means principal, interest, costs of issuance, debt service reserve requirements, underwriting discount, costs of credit enhancement or liquidity instruments, and other costs directly related to the issuance of bonds or debt for approved public infrastructure costs or approved signature project costs for projects approved pursuant to KRS §. See Kentucky Statutes 154.30-010
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Floor amendment: An amendment offered by an individual legisator from the floor during consideration of a bill or other measure, in contrast to a committee amendment.
Floor leaders: The Majority Leader and Minority Leader are elected by their respective party conferences to serve as the chief Senate spokesmen for their parties and to manage and schedule the legislative and executive business of the Senate. By custom, the Presiding Officer gives the floor leaders priority in obtaining recognition to speak on the floor of the Senate.
Footprint: means the actual perimeter of a discrete, identified project within a development area. See Kentucky Statutes 154.30-010
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
Foreign corporation: means a corporation for profit incorporated under a law other than the law of this state. See Kentucky Statutes 271B.1-400
Foreign limited cooperative association: means a limited cooperative association that is not:
(a) Organized pursuant to the laws of the Commonwealth of Kentucky. See Kentucky Statutes 14A.1-070
Foreign limited liability partnership: means a partnership that:
(a) Is formed under laws other than the laws of this Commonwealth. See Kentucky Statutes 14A.1-070
Foreign rural electric cooperative: means a rural electric cooperative organized otherwise than under KRS §. See Kentucky Statutes 14A.1-070
Fraud: Intentional deception resulting in injury to another.
Full-time employee: means a person employed by a small business for at least an average of thirty-five (35) hours per week and subject to the state tax imposed by KRS §. See Kentucky Statutes 154.60-010
Fund: means the Kentucky Research and Development Infrastructure fund created and established pursuant to KRS §. See Kentucky Statutes 154.35-010
Gasification: means a process through which post-use polymers and recovered feedstocks are heated and converted into a fuel and gas mixture in an oxygen- deficient atmosphere, and then converted into raw, intermediate, and final products. See Kentucky Statutes 224.1-010
Gasification facility: means a facility located in Kentucky that is newly constructed on or after August 30, 2007, or an existing facility located in Kentucky that is retrofitted or upgraded on or after August 30, 2007, and that, after the new construction, retrofit, or upgrade, primarily produces for sale:
1. See Kentucky Statutes 154.27-010
Gasification process: means a process that converts any carbon-containing material into a synthesis gas composed primarily of carbon monoxide and hydrogen. See Kentucky Statutes 154.27-010
Generator: means any person, by site, whose act or process produces waste. See Kentucky Statutes 224.1-010
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Governing body: means a county, a waste management district, an entity created pursuant to the Interlocal Cooperation Act, a taxing district created pursuant to the provisions of KRS §. See Kentucky Statutes 224.1-010
Governing body: means the body possessing legislative authority in a city or county. See Kentucky Statutes 154.30-010
Grantor: The person who establishes a trust and places property into it.
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
Hazardous waste: means any discarded material or material intended to be discarded or substance or combination of such substances intended to be discarded, in any form which because of its quantity, concentration or physical, chemical or infectious characteristics may cause, or significantly contribute to an increase in mortality or an increase in serious irreversible, or incapacitating reversible, illness or pose a substantial present or potential hazard to human health or the environment when improperly treated, stored, transported, or disposed of, or otherwise managed. See Kentucky Statutes 224.1-010
Headquarters: means the principal office where the principal executives of the entity are located and from which other personnel, branches, affiliates, offices, or entities are controlled. See Kentucky Statutes 154.31-010
Holder: means the grantee of an environmental covenant. See Kentucky Statutes 224.80-100
Household solid waste: means solid waste, including garbage and trash generated by single and multiple family residences, hotels, motels, bunkhouses, ranger stations, crew quarters, and recreational areas such as picnic areas, parks, and campgrounds, but it does not include tire- derived fuel. See Kentucky Statutes 224.1-010
Incentives: means the Kentucky tax credit as prescribed in this subchapter. See Kentucky Statutes 154.34-010
Increment bonds: means bonds and notes issued for the purpose of paying the costs of one (1) or more projects. See Kentucky Statutes 154.30-010
Incremental revenues: means :
(a) The amount of revenues received by a taxing district, as determined by subtracting old revenues from new revenues in a calendar year with respect to a development area, or a project within a development area. See Kentucky Statutes 154.30-010
Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
Indexing: means the practice or method kept by a county clerk's office to record legal property transactions. See Kentucky Statutes 224.80-100
Individual: means a natural person and includes the estate of an incompetent or deceased individual. See Kentucky Statutes 271B.1-400
Inducements: means the Kentucky tax credit and the wage assessment fee as prescribed in KRS §. See Kentucky Statutes 154.25-010
Inducements: means the Kentucky tax credit and the job revitalization assessment fee as prescribed in KRS §. See Kentucky Statutes 154.26-010
Industrial energy facility: means a facility that produces transportation fuels, synthetic natural gas, chemicals, or electricity through a gasification process using coal, coal waste, or biomass resources, and costing in excess of seven hundred fifty million dollars ($750,000,000) at the time of construction. See Kentucky Statutes 224.1-010
Industrial entity: means any corporation, limited liability company, partnership, limited partnership, person, or any other legal entity, domestic or foreign, which
will itself or through its subsidiaries or affiliates, engage in an industrial improvement project in the Commonwealth. See Kentucky Statutes 154.1-010
Industrial film: means a business-to-business film that may be viewed by the public, including but not limited to videos used for training or for viewing at a trade show. See Kentucky Statutes 154.61-010
Industrial improvement project: means and includes the acquisition, construction, or implementation of new manufacturing, processing, or assembling facilities, equipment, methods or processes, or improvements to or repair of existing manufacturing, processing, or assembling facilities, equipment, methods, or processes, including repair, restoration, or conversion of tobacco warehouses, as well as improvements to the real estate upon which the facilities are located, and includes any capital improvement to any existing facility, including any restructuring, retooling, rebuilding, reequipping, or any other form of upgrading such existing facility and equipment and any other improvements to such real estate, existing facility, or manufacturing, processing, or assembling equipment, method, or process. See Kentucky Statutes 154.1-010
Industrial solid waste: means solid waste generated by manufacturing or industrial processes that is not a hazardous waste or a special waste as designated by KRS §. See Kentucky Statutes 224.1-010
Infrastructure: means the Kentucky Research and Development Infrastructure. See Kentucky Statutes 154.35-010
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Interest: means all or part of a legal equitable claim to a right in real property which shall include both possessory and nonpossessory interests. See Kentucky Statutes 224.80-100
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
Joint resolution: A legislative measure which requires the approval of both chambers.
Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Kentucky gross profits: means Kentucky gross profits as defined in KRS
141. See Kentucky Statutes 154.25-010
Kentucky gross receipts: means Kentucky gross receipts as defined in KRS
141. See Kentucky Statutes 154.25-010
KentuckyWired: means the Commonwealth's open-access broadband network. See Kentucky Statutes 154.15-010
Key industry: means an industry or business within an industrial sector which has been identified in and targeted by the state's economic development strategic plan as having major importance to the sustained economic growth of the Commonwealth and in which member firms sell goods or services into markets for which national or international competition exists, including but not limited to secondary forest products manufacturing, agribusiness, and high technology and biotechnology manufacturing and services. See Kentucky Statutes 154.1-010
Key personnel: means an officer, partner, director, manager, or shareholder of five percent (5%) or more of stock or financial interest in a corporation, partnership, or association or parent, subsidiary, or affiliate corporation and its officers, directors, or shareholders of five percent (5%) or more of stock or financial interest. See Kentucky Statutes 224.1-010
Land disposal: includes but is not limited to any placement of hazardous waste in a landfill, surface impoundment, waste pile, injection well, land treatment facility, salt dome formation, salt bed formation, or underground mine or cave. See Kentucky Statutes 224.1-010
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Legacy: A gift of property made by will.
Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Lien: A claim against real or personal property in satisfaction of a debt.
Limited cooperative association: means a limited cooperative association governed as to its internal affairs by KRS Chapter 272A. See Kentucky Statutes 14A.1-070
Limited liability partnership: means a partnership that has filed a statement of qualification under KRS §. See Kentucky Statutes 14A.1-070
Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, or any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 446.010
livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, and any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 154.1-010
Loan-out entity: means a corporation, partnership, limited liability company, or other entity through which an artist or other person is loaned out to perform services for the approved company. See Kentucky Statutes 154.61-010
Manifest: means the form used for identifying the quantity, composition, and the origin, routing, and destination of waste during its transportation from the point of generation to the point of disposal, treatment, or storage. See Kentucky Statutes 224.1-010
Manufacturing: means any activity involving the manufacturing, processing, assembling, or production of any property, including the processing that results in a change in the condition of the property and any related activity or function, together with the storage, warehousing, distribution, and related office facilities. See Kentucky Statutes 154.26-010
Minority leader: See Floor Leaders
Modified new revenues for income tax: means the amount of individual income tax included in state tax revenues that is:
(a) The result of multiplying the portion of state tax revenues from individual income taxes by the modifier. See Kentucky Statutes 154.30-010
Modifier: means the result of dividing the individual income tax rate of five percent (5%), in effect as of December 31, 2022, by the individual income tax rate under KRS §. See Kentucky Statutes 154.30-010
Month: means calendar month. See Kentucky Statutes 446.010
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Motion picture or entertainment production: means :
1. See Kentucky Statutes 154.61-010
Municipal solid waste: means household solid waste and commercial solid waste. See Kentucky Statutes 224.1-010
Municipal solid waste disposal facility: means any type of waste site or facility where the final deposition of any amount of municipal solid waste occurs, whether or not mixed with or including other waste allowed under Subtitle D of the Federal Resource Conservation and Recovery Act of 1976, as amended, and includes but is not limited to incinerators and waste-to-energy facilities that burn municipal solid waste and contained and residential landfills, but does not include an advanced recycling facility or a waste site or facility which is operated exclusively by a solid waste generator on property owned by the solid waste generator which accepts only industrial solid waste from the solid waste generator or industrial solid waste generated at another facility owned and operated by the generator or wholly-owned subsidiary, or a medical waste incinerator which is owned, operated, and located on the property of a hospital or university which is regulated by the cabinet and used for the purpose of treatment, prior to landfill, of medical waste received from the generator exclusively or in combination with medical waste generated by professionals or facilities licensed or regulated or operated by the Commonwealth. See Kentucky Statutes 224.1-010
Municipality: means a county, city, development organization, an institution of higher education, a community or junior college, a subdivision or instrumentality of any of the foregoing, or any entity created by two (2) or more municipalities pursuant to the Interlocal Cooperation Act, KRS §. See Kentucky Statutes 154.1-010
New revenues: means :
(a) The amount of local tax revenues received by a taxing district with respect to a development area in any calendar year beginning with the year in which the activation date occurred. See Kentucky Statutes 154.30-010
Newsprint: means that class or kind of paper chiefly used for printing newspapers and weighing more than twenty-four and one-half (24 1/2) pounds, but less than thirty-five (35) pounds for five hundred (500) sheets of paper two (2) feet by three (3) feet in size, on rolls that are not less than thirteen (13) inches wide and twenty- eight (28) inches in diameter and having a brightness of less than sixty (60). See Kentucky Statutes 224.1-010
NPDES: means National Pollutant Discharge Elimination System. See Kentucky Statutes 224.1-010
Oath: A promise to tell the truth.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Old revenues: means :
(a) The amount of local tax revenues received by a taxing district with respect to a development area as of December 31 of the year of preliminary approval. See Kentucky Statutes 154.30-010
Open dump: means any facility or site for the disposal of solid waste which does not have a valid permit issued by the cabinet or does not meet the environmental performance standards established under regulations promulgated by the cabinet. See Kentucky Statutes 224.1-010
Organizational filing: means a filing made with the Secretary of State as a precondition to the formation, organization, or incorporation of an entity, including articles of incorporation, articles of organization, articles of association, certificates of trust, and certificates of limited partnership. See Kentucky Statutes 14A.1-070
Organized: means organized, incorporated, or formed. See Kentucky Statutes 14A.1-070
Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
Outstanding: means increment bonds that have been issued, delivered, and paid for by the purchaser, except any of the following:
(a) Increment bonds canceled upon surrender, exchange, or transfer, or upon payment or redemption. See Kentucky Statutes 154.30-010
Oversight: Committee review of the activities of a Federal agency or program.
Owner: means a person that owns a fee simple interest or any other interest in real property that is subject to an environmental covenant. See Kentucky Statutes 224.80-100
Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
Partnership: means an association of two (2) or more persons to carry on as co- owners a business for profit formed under KRS §. See Kentucky Statutes 14A.1-070
Partnership agreement: means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement. See Kentucky Statutes 14A.1-070
Person: includes individual and entity. See Kentucky Statutes 271B.1-400
Person: means an individual, an entity, a foreign entity, or any other legal or commercial entity. See Kentucky Statutes 14A.1-070
Person: means an individual, partnership, joint venture, military facility operated by a department or agency of the United States, profit or nonprofit corporation including a public or private college or university, limited liability company, or other entity or association of persons organized for agricultural, commercial, health care, or industrial purposes. See Kentucky Statutes 154.1-010
Personal property: All property that is not real property.
Plaintiff: The person who files the complaint in a civil lawsuit.
Plan: means the state capital improvement plan provided for by KRS §. See Kentucky Statutes 7A.010
Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. ^Source:
Pollutant: means and includes dredged spoil, solid waste, incinerator residue, sewage, sewage sludge, garbage, chemical, biological or radioactive materials, heat, wrecked or discarded equipment, rock, sand, soil, industrial, municipal or agricultural waste, and any substance resulting from the development, processing, or recovery of any natural resource which may be discharged into water. See Kentucky Statutes 224.1-010
Post-closure monitoring and maintenance: means the routine care, maintenance, and monitoring of a solid waste or hazardous waste treatment, storage, or disposal facility following closure of the facility. See Kentucky Statutes 224.1-010
Post-construction incentives: means the incentives available under KRS
154. See Kentucky Statutes 154.27-010
Post-use polymer: means a plastic polymer that:
(a) Is derived from any industrial, commercial, agricultural, or domestic activities. See Kentucky Statutes 224.1-010
Postconsumer waste paper: means discarded paper after it has served its intended use by a publisher. See Kentucky Statutes 224.1-010
Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
Preliminary approval: means the action taken by the authority conditioning final approval by the authority upon satisfaction by the eligible company of the
requirements under this subchapter. See Kentucky Statutes 154.25-010
Preliminary approval: means the action taken by the authority conditioning final approval by the authority upon satisfaction by the eligible company of the requirements under this subchapter. See Kentucky Statutes 154.26-010
President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
Principal office: means the office in or out of this state, so designated in writing to the Secretary of State where the principal executive offices of a domestic or foreign corporation are located. See Kentucky Statutes 271B.1-400
Principal office: means the address required by this chapter or the organic act to be of record with the Secretary of State as the principal office, the principal place of business address, the designated office of a limited partnership, or the chief executive office of a limited liability partnership. See Kentucky Statutes 14A.1-070
Private sector: means any source other than the authority, a state or federal entity,
or an agency thereof. See Kentucky Statutes 154.1-010
Probable cause: A reasonable ground for belief that the offender violated a specific law.
Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Kentucky Statutes 271B.1-400
project: means the acquisition, construction, and installation of new equipment and, with respect thereto, the construction, rehabilitation, and installation of improvements to facilities necessary to house the acquisition, construction, and installation of new equipment, including surveys. See Kentucky Statutes 154.25-010
Project: means any property, asset, or improvement located in a development area and certified by the governing body as:
(a) Being for a public purpose. See Kentucky Statutes 154.30-010
Project: includes but is not limited to agribusiness, agricultural or forestry production, harvesting, storage, or processing facilities or equipment. See Kentucky Statutes 154.1-010
Project term: means the time for which an agreement shall be in effect. See Kentucky Statutes 154.31-010
Property: means all property, real, personal, or mixed, tangible or intangible, or any interest therein. See Kentucky Statutes 14A.1-070
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Public benefit: means a positive effect or reduction of negative effects on one (1) or more categories of persons, entities, communities, or interests other than stockholders in their capacities as stockholders. See Kentucky Statutes 271B.1-400
Public benefit corporation: means a for-profit corporation that is intended to produce a public benefit and to operate in a responsible manner, balancing the stockholders' pecuniary interests, the best interests of those materially affected by the corporation's conduct, and the public benefit identified in its articles of incorporation. See Kentucky Statutes 271B.1-400
public funds: means sums actually received in cash or negotiable instruments from all sources unless otherwise described by any state agency, state- owned corporation, university, department, cabinet, fiduciary for the benefit of any form of state organization, authority, board, bureau, interstate compact, commission, committee, conference, council, office, or any other form of organization whether or not the money has ever been paid into the Treasury and whether or not the money is still in the Treasury if the money is controlled by any form of state organization, except for those funds the management of which is to be reported to the Legislative Research Commission pursuant to KRS §. See Kentucky Statutes 446.010
Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
Public notice: means the publication of required information in a daily or weekly newspaper of major circulation located in the county or counties where the property subject to the proposed environmental covenant is located. See Kentucky Statutes 224.80-100
Publicly owned treatment works: means any device or system used in the treatment (including recycling and recovery) of municipal sewage or industrial wastes of a liquid nature which is owned by the Commonwealth or a political subdivision of the Commonwealth. See Kentucky Statutes 224.1-010
Publisher: means a person engaged in the business of publishing newspapers, advertisement flyers, telephone books, and other printed material. See Kentucky Statutes 224.1-010
Pyrolysis: means a manufacturing process through which post-use polymers are heated in the absence of oxygen until melted and thermally decomposed, and are then cooled, condensed, and converted into raw materials, intermediate products, or final products. See Kentucky Statutes 224.1-010
Qualifying equipment or technology: means equipment or technology that has been approved by the Office of Entrepreneurship and Innovation. See Kentucky Statutes 154.60-010
Qualifying expenditure: means expenditures made in the Commonwealth for the following if directly used in or for a motion picture or entertainment production:
1. See Kentucky Statutes 154.61-010
Quorum: The number of legislators that must be present to do business.
real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Reclamation development fund: means the fund administered by the Kentucky Economic Development Finance Authority to foster economic development on surface mining land. See Kentucky Statutes 154.1-010
Reclamation development plan: means a plan submitted to the Energy and Environment Cabinet to show compliance with reclamation standards, and submitted to the Kentucky Economic Development Finance Authority to seek moneys from the reclamation development fund for a reclamation development project. See Kentucky Statutes 154.1-010
Reclamation development project: means only that reconditioning of land affected by surface mining, which will directly promote and benefit an economic undertaking which constitutes a project under subsection (20) of this section. See Kentucky Statutes 154.1-010
Record date: means the date established under Subtitle 6 or 7 of this chapter on which a corporation determines the identity of its shareholders and their shareholdings for purposes of this chapter. See Kentucky Statutes 271B.1-400
Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
Recovered feedstock: means one (1) or more of the following materials that has been processed so that it may be used as feedstock in an advanced recycling facility:
1. See Kentucky Statutes 224.1-010
Recovered material: means those materials, including but not limited to compost,
which have known current use, reuse, or recycling potential, which can be feasibly used, reused, or recycled, and which have been diverted or removed from the solid waste stream for sale, use, reuse, or recycling, whether or not requiring subsequent separation and processing, but does not include materials diverted or removed for purposes of energy recovery or combustion except refuse-derived fuel (RDF), which shall be credited as a recovered material in an amount equal to that percentage of the municipal solid waste received on a daily basis at the processing facility and processed into RDF. See Kentucky Statutes 224.1-010
Recovered material processing facility: means a facility engaged solely in the storage, processing, and resale or reuse of recovered material, but does not mean a solid waste management facility if solid waste generated by a recovered material processing facility is managed pursuant to this chapter and administrative regulations adopted by the cabinet. See Kentucky Statutes 224.1-010
Recycling: means any process by which materials which would otherwise become solid waste are collected, separated, or processed and reused or returned to use in the form of raw materials or products, including refuse-derived fuel when processed in accordance with administrative regulations established by the cabinet, but does not include the incineration or combustion of materials for the recovery of energy. See Kentucky Statutes 224.1-010
Refuse-derived fuel: means a sized, processed fuel product derived from the extensive separation of municipal solid waste, which includes the extraction of recoverable materials for recycling and the removal of nonprocessables such as dirt and gravel prior to processing the balance of the municipal solid waste into the refuse-derived fuel product. See Kentucky Statutes 224.1-010
region: means the geographical area of Kentucky contained within the Appalachian region as defined by the federal Appalachian Regional Development Act of 1965, as amended. See Kentucky Statutes 154.33-510
Registered agent: means a registered agent appointed in accordance with KRS
14A. See Kentucky Statutes 14A.1-070
Registered office: means the registered office identified in accordance with and
satisfying the requirements of KRS §. See Kentucky Statutes 14A.1-070
Regulatory board: means the agency that is charged by law with the licensing and regulation of the practice of the profession which the entity is organized to provide. See Kentucky Statutes 14A.1-070
Reinvestment project: means :
(a) A reinvestment in the facility of an eligible company and in the full-time employees of an eligible company through the acquisition, construction, and installation of new equipment and, with respect thereto, the construction, rehabilitation, and installation of improvements to facilities necessary to house the new equipment, including surveys. See Kentucky Statutes 154.34-010
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Renewable energy facility: means a facility located in Kentucky that is newly constructed on or after August 30, 2007, or an existing facility located in Kentucky that is retrofitted or upgraded after August 30, 2007, and that, after the new construction, retrofit, or upgrade, utilizes:
(a) Wind power, biomass resources, landfill methane gas, hydropower, or other similar renewable resources to generate electricity in excess of one (1) megawatt for sale to unrelated entities. See Kentucky Statutes 154.27-010
Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
Research and development: means experimental or laboratory activity that has as its ultimate goal the development of new products, the improvement of existing products, the development of new uses for existing products, or the development or improvement of methods for producing products. See Kentucky Statutes 154.31-010
Retrofit: means a modification or addition to an existing facility that results in the production of a new and different product or services or uses a new or different process to produce the same product or services at the facility. See Kentucky Statutes 154.27-010
Rural electric cooperative: means a rural electric cooperative governed as to its internal affairs by KRS §. See Kentucky Statutes 14A.1-070
Rural telephone cooperative: means a rural telephone cooperative governed as to its internal affairs by KRS §. See Kentucky Statutes 14A.1-070
Secondary wood products industry: means businesses that compose that segment of the forest products industry that manufacture, assemble, process, or produce wood into a finished or semifinished product. See Kentucky Statutes 154.47-005
Secretary: means the secretary of the Cabinet for Economic Development. See Kentucky Statutes 154.35-010
Secretary: means the secretary of the Energy and Environment Cabinet. See Kentucky Statutes 224.1-010
Secretary: means the secretary of the Cabinet for Economic Development. See Kentucky Statutes 154.61-010
Secretary: means the corporate officer to whom the board of directors has delegated responsibility under KRS §. See Kentucky Statutes 271B.1-400
Series entity: means an entity or a foreign entity authorized and enabled by its organic act and organizational filing to create series having separate rights, powers, or duties with respect to specific property or obligations of the series entity, or the profits and losses associated with specific property or obligations. See Kentucky Statutes 14A.1-070
Service of process: The service of writs or summonses to the appropriate party.
Servitude: means a right, burden, or restriction on the use of real property that passes from the current owner or tenant to any owners or tenants in succession. See Kentucky Statutes 224.80-100
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Sewage system: means individually or collectively those constructions or devices used for collecting, pumping, treating, and disposing of liquid or waterborne sewage, industrial wastes, or other wastes. See Kentucky Statutes 224.1-010
Share: means the unit into which the proprietary interests in a corporation are divided. See Kentucky Statutes 271B.1-400
Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Kentucky Statutes 271B.1-400
signature: includes any manual, facsimile, or conformed or electronic signature. See Kentucky Statutes 271B.1-400
Signature project: means a project approved under KRS §. See Kentucky Statutes 154.30-010
Solid waste management: means the administration of solid waste activities: collection, storage, transportation, transfer, processing, treatment, and disposal, which shall be in accordance with a cabinet-approved county or multicounty solid waste management plan. See Kentucky Statutes 224.1-010
Solid waste management facility: means any facility for collection, storage, transportation, transfer, processing, treatment, or disposal of solid waste, whether such facility is associated with facilities generating such wastes or otherwise, but does not include a container located on property where solid waste is generated and which is used solely for the purpose of collection and temporary storage of that solid waste prior to off-site disposal, or a recovered material processing facility or advanced recycling facility, both of which are otherwise subject to regulation pursuant to this chapter for control of environmental impacts and to prevent any public nuisance. See Kentucky Statutes 224.1-010
Solvolysis: includes but is not limited to hydrolysis, aminolysis, ammonolysis, methanolysis, and glycolysis. See Kentucky Statutes 224.1-010
State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
State agency: means any department, commission, council, board, bureau, committee, institution, legislative body, agency, government corporation, or other entity of the executive, judicial, or legislative branch of the state government. See Kentucky Statutes 7A.010
State real property ad valorem tax: means real property ad valorem taxes levied under KRS §. See Kentucky Statutes 154.30-010
State tax revenues: means revenues received by the Commonwealth from one (1)
or more of the following sources:
(a) State real property ad valorem taxes. See Kentucky Statutes 154.30-010
Statute: A law passed by a legislature.
Statutory trust: means a trust governed as to its internal affairs by KRS Chapter
386A. See Kentucky Statutes 14A.1-070
Storage: means the containment of wastes, either on a temporary basis or for a period of years, in such a manner as not to constitute disposal of such wastes. See Kentucky Statutes 224.1-010
Subordination agreement: means an agreement affecting priority of interests in a real property that is subject to an environmental covenant. See Kentucky Statutes 224.80-100
Subpoena: A command to a witness to appear and give testimony.
Subpoena duces tecum: A command to a witness to produce documents.
Subscriber: means a person who subscribes for shares in a corporation, whether before or after incorporation. See Kentucky Statutes 271B.1-400
Summons: Another word for subpoena used by the criminal justice system.
Supplemental project: means an additional jobs retention project proposed by the approved company or its affiliate during the term of a previously approved jobs retention project, which may be included in the jobs retention agreement by way of amendment and which may result in increased inducements and an extension of the original project term as set forth in KRS §. See Kentucky Statutes 154.25-010
Supplemental project: means an additional investment in an approved economic revitalization project proposed during, or within sixty (60) months after the expiration of, the initial term of an agreement, and which may be approved by the authority for additional inducements as set forth in KRS §. See Kentucky Statutes 154.26-010
Supplemental project agreement: means an agreement, entered into pursuant to KRS §. See Kentucky Statutes 154.26-010
Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
Tax incentive agreement: means the agreement entered into pursuant to KRS
154. See Kentucky Statutes 154.61-010
Tax incentive agreement: means an agreement entered into in accordance with KRS §. See Kentucky Statutes 154.27-010
Tax incentive agreement: means an agreement entered into in accordance with
KRS §. See Kentucky Statutes 154.30-010
Tax revenues: means any revenues received by the Commonwealth directly or indirectly as a result of the industrial improvement project, including state corporate income taxes, the limited liability entity tax imposed by KRS §. See Kentucky Statutes 154.1-010
Termination: means the final actions taken by the cabinet as to a solid waste or hazardous waste treatment, storage, or disposal facility when formal responsibilities for post-closure monitoring and maintenance cease. See Kentucky Statutes 224.1-010
Termination date: means a date established by the tax incentive agreement that is no more than twenty-five (25) years from the activation date. See Kentucky Statutes 154.27-010
Termination date: means :
(a) For a tax incentive agreement satisfying the requirements of KRS §. See Kentucky Statutes 154.30-010
Testify: Answer questions in court.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
Transfer facility: means any transportation related facility including loading docks, parking areas, and other similar areas where shipments of solid waste are held or transferred during the normal course of transportation. See Kentucky Statutes 224.1-010
Transferred credits: means unused approved costs as determined by the Department of Revenue from a previously approved, independent, active project under a different incentive program governed by the Cabinet for Economic Development that may be transferred to a jobs retention project and used by the approved company pursuant to a jobs retention agreement. See Kentucky Statutes 154.25-010
Transportation: means any off-site movement of waste by any mode, and any loading, unloading, or storage incidental thereto. See Kentucky Statutes 224.1-010
Treatment: means any method, technique, or process, including neutralization, designed to change the physical, chemical, or biological character or composition of any waste so as to neutralize such waste or so as to render such waste nonhazardous, safer for transport, amenable for recovery, amenable for storage, or reduced in volume. See Kentucky Statutes 224.1-010
Treatment: when used in a criminal justice context, means targeted interventions
that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
Trustee: A person or institution holding and administering property in trust.
Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
United States: includes district, authority, bureau, commission, department, and any other agency of the United States. See Kentucky Statutes 271B.1-400
Universal collection: means a municipal solid waste collection system which is established by ordinance and approved by the cabinet and requires access for each household or solid waste generator in a county. See Kentucky Statutes 224.1-010
Upgrade: means an investment in an existing facility that results in an increase in the productivity of the facility. See Kentucky Statutes 154.27-010
Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
Venue: The geographical location in which a case is tried.
Veteran-owned business: means a business:
(a) That is at least fifty-one percent (51%) unconditionally owned by one (1) or more veterans. See Kentucky Statutes 14A.1-070
Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
Violate: includes failure to comply with. See Kentucky Statutes 446.010
Voting group: means all shares of one (1) or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Kentucky Statutes 271B.1-400
Waste: means :
(a) "Solid waste" means any garbage, refuse, sludge, and other discarded material, including solid, liquid, semi-solid, or contained gaseous material resulting from industrial, commercial, mining (excluding coal mining wastes, coal mining by-products, refuse, and overburden), agricultural operations, and from community activities, but does not include those materials including, but not limited to, sand, soil, rock, gravel, or bridge debris extracted as part of a public road construction project funded wholly or in part with state funds, recovered material, post-use polymers or recovered feedstocks, tire-derived fuel, special wastes as designated by KRS §. See Kentucky Statutes 224.1-010
Waste management district: means any county or group of counties electing to form under the provisions of KRS Chapter 109 and operate in conformance with the provisions of KRS Chapter 109 and with Section 4006, Resource Conservation and Recovery Act of 1976, as amended (Public Law 94-580). See Kentucky Statutes 224.1-010
Waste site or facility: means any place where waste is managed, processed, or disposed of by incineration, landfilling, or any other method, but does not include a container located on property where solid waste is generated and which is used solely for the purpose of collection and temporary storage of that solid waste prior to off-site disposal, or a recovered material processing facility, or an advanced recycling facility, or the combustion of processed waste in a utility boiler. See Kentucky Statutes 224.1-010
waters of the Commonwealth: means and includes any and all rivers, streams, creeks, lakes, ponds, impounding reservoirs, springs, wells, marshes, and all other bodies of surface or underground water, natural or artificial, situated wholly or partly within or bordering upon the Commonwealth or within its jurisdiction. See Kentucky Statutes 224.1-010
Whips: Assistants to the floor leaders who are also elected by their party conferences. The Majority and Minority Whips (and their assistants) are responsible for mobilizing votes within their parties on major issues. In the absence of a party floor leader, the whip often serves as acting floor leader.
Writ: A formal written command, issued from the court, requiring the performance of a specific act.
Year: means calendar year. See Kentucky Statutes 446.010

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Kentucky Statutes > Chapter 14A – Kentucky Business Entity Filing Act

Terms Used In Kentucky Statutes > Chapter 14A - Kentucky Business Entity Filing Act

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