Terms Used In Kentucky Statutes > Chapter 154 > Subchapter 27 - Incentives for Energy-related Business Act

• 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
• 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.
• 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
• Authority: means the Kentucky Economic Development Finance Authority established by KRS §. See Kentucky Statutes 154.27-010
• 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
• 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
• 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
• Capital investment: means :
  1. See Kentucky Statutes 154.27-010
• 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
• 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
• Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.27-010
• Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• 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
• Contract: A legal written agreement that becomes binding when signed.
• 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
• Department: means the Department of Revenue. See Kentucky Statutes 154.27-010
• Eligible project: means :
  (a) An alternative fuel facility or a gasification facility meeting the investment requirements of KRS §. See Kentucky Statutes 154.27-010
• 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
• Estimated labor component: means the projected percentage of the total capital investment attributable to labor. See Kentucky Statutes 154.27-010
• Facility: means a single location within the Commonwealth at which machinery and equipment are used:
  1. See Kentucky Statutes 154.27-010
• Federal: refers to the United States. See Kentucky Statutes 446.010
• 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
• 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.
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Month: means calendar month. See Kentucky Statutes 446.010
• 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
• Personal property: All property that is not real property.
• Post-construction incentives: means the incentives available under KRS
  154. See Kentucky Statutes 154.27-010
• 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
• 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
• 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
• 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.
• Tax incentive agreement: means an agreement entered into in accordance with KRS §. See Kentucky Statutes 154.27-010
• 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 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
• 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
• Year: means calendar year. See Kentucky Statutes 446.010