Kansas Statutes 74-50,121. Definitions
For the purposes of this act:
(a) “Agreement” means an agreement entered into between the qualified industrial manufacturer and the secretary for benefits under this act.
Terms Used In Kansas Statutes 74-50,121
- Act: means the provisions of Kan. See Kansas Statutes 74-50,211
- 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.
- Gross compensation: means gross wages and benefits paid to or on behalf of employees receiving wages. See Kansas Statutes 74-50,136
- 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.
- Secretary: means the secretary of commerce. See Kansas Statutes 74-5059
(b) “Gross compensation” means gross wages and benefits paid to or on behalf of employees receiving wages.
(c) “Qualified industrial manufacturer” means a person, corporation, partnership or other entity engaged in the manufacturing of hydraulics in Reno county, Kansas, that satisfies conditions imposed by the secretary which shall include, among other conditions, that the person, corporation, partnership or other entity meet the requirements of subsection (a) of Kan. Stat. Ann. § 74-50,122, and amendments thereto, and anticipates paying at least $12,500,000 in annual gross compensation to employees located in Kansas and anticipates maintaining such operation for a period of at least ten years.
(d) “Secretary” means the secretary of commerce.