Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle III > Chapter 23 - Louisiana Initiative for Veteran and Service-Connected Disabled Veteran-Owned Small Entrepreneurships (The Veteran Initiative)

• Amortization: Paying off a loan by regular installments.
• Commissioner: means the commissioner of administration. See Louisiana Revised Statutes 39:2172
• Contract: A legal written agreement that becomes binding when signed.
• Contractor: means any person having a contract with a state agency. See Louisiana Revised Statutes 39:2172
• 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.
• Data: means recorded information, regardless of form or characteristic. See Louisiana Revised Statutes 39:2172
• 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.
• Goal: means a numerically expressed objective relating to state procurements and public works contracts that a state agency or contractor is encouraged to make a good faith effort to achieve. See Louisiana Revised Statutes 39:2172
• 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.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Procurement: means the buying, purchasing, renting, leasing, or otherwise obtaining any materials, supplies, services, or major repairs, or personal services, professional services, consulting services, or social services. See Louisiana Revised Statutes 39:2172
• public contract: means all types of state agreements, regardless of what they may be called, for personal services, professional services, consulting services, or social services, or the purchase of materials, supplies, services, or major repairs, or for the making of any public works. See Louisiana Revised Statutes 39:2172
• Service-connected disabled veteran-owned small entrepreneurship: means any corporation, partnership, individual, sole proprietorship, joint stock company, joint venture, or any other legal entity which has not less than fifty-one percent ownership by a veteran of the United States Armed Forces with a service-connected disability, and meets the criteria for certification by the secretary of the Department of Economic Development pursuant to La. See Louisiana Revised Statutes 39:2172
• state agency: means any department, office, division, commission, council, board, bureau, committee, institution, agency, government corporation, or other establishment or official of the executive or judicial branches of state government. See Louisiana Revised Statutes 39:2172
• Veteran-owned small entrepreneurship: means any corporation, partnership, individual, sole proprietorship, joint stock company, joint venture, or any other legal entity which has not less than fifty-one percent ownership by a veteran of the United States Armed Forces and meets the criteria for certification by the secretary of the Department of Economic Development pursuant to La. See Louisiana Revised Statutes 39:2172