Terms Used In Kentucky Statutes > Chapter 154 > Subchapter 26 - Financing of Existing Industry Development

• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• 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
• 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.
• 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 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
• Authority: means the Kentucky Economic Development Finance Authority created by KRS §. See Kentucky Statutes 154.26-010
• Business trust: includes , except when utilized in KRS Chapter 386, a "statutory trust" as organized under KRS Chapter 386A. See Kentucky Statutes 446.010
• Cabinet: means the Cabinet for Economic Development as established under KRS
  12. See Kentucky Statutes 154.1-010
• 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
• Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.26-010
• Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• Contract: A legal written agreement that becomes binding when signed.
• 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
• 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
• 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.
• 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
• 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.
• Inducements: means the Kentucky tax credit and the job revitalization assessment fee as prescribed in KRS §. See Kentucky Statutes 154.26-010
• 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.
• 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
• 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.
• 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
• 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
• 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
• 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
• real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
• 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.
• 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
• Statute: A law passed by a legislature.
• 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
• 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
• Year: means calendar year. See Kentucky Statutes 446.010