Terms Used In Kentucky Statutes > Chapter 154 > Subchapter 34 - Reinvestment of Manufacturing Facilities

• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• Approved company: means an eligible company approved under KRS §. See Kentucky Statutes 154.34-010
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney: means attorney-at-law. See Kentucky Statutes 446.010
• Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
• Business trust: includes , except when utilized in KRS Chapter 386, a "statutory trust" as organized under KRS Chapter 386A. See Kentucky Statutes 446.010
• 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
• Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.34-010
• 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.
• Department: means the Department of Revenue. See Kentucky Statutes 154.34-010
• Eligible equipment and related costs: means :
  1. See Kentucky Statutes 154.34-010
• 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
• Federal: refers to the United States. See Kentucky Statutes 446.010
• 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
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Incentives: means the Kentucky tax credit as prescribed in this subchapter. See Kentucky Statutes 154.34-010
• 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.
• 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.
• Partnership: includes both general and limited partnerships. 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.
• 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
• 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
• 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
• State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
• State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
• Statute: A law passed by a legislature.
• 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
• 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