Terms Used In Kentucky Statutes > Chapter 154 > Subchapter 35 - Applied and Basic Research Development

• Action: includes all proceedings in any court of this state. 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
• Board: means the governance board of the Kentucky Science and Technology
  Council, Inc. See Kentucky Statutes 154.35-010
• Cabinet: means the Cabinet for Economic Development. See Kentucky Statutes 154.35-010
• Center: means either or both of the following as the context requires:
  (a) "Basic research centers" which means centers under contract with the
  University of Kentucky and the University of Louisville. See Kentucky Statutes 154.35-010
• Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.35-010
• Contract: A legal written agreement that becomes binding when signed.
• Contracting university: means any of the following that contract with the council to operate a center: the University of Kentucky, the University of Louisville, Eastern Kentucky University, Western Kentucky University, Morehead State University, Northern Kentucky University, Murray State University, and Kentucky State University. See Kentucky Statutes 154.35-010
• Council: means the Kentucky Science and Technology Council, Inc. See Kentucky Statutes 154.35-010
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Federal: refers to the United States. See Kentucky Statutes 446.010
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fund: means the Kentucky Research and Development Infrastructure fund created and established pursuant to KRS §. See Kentucky Statutes 154.35-010
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Infrastructure: means the Kentucky Research and Development Infrastructure. See Kentucky Statutes 154.35-010
• 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.
• Key industry: means an industry or business within an industrial sector which has been identified in and targeted by the state's economic development strategic plan as having major importance to the sustained economic growth of the Commonwealth and in which member firms sell goods or services into markets for which national or international competition exists, including but not limited to secondary forest products manufacturing, agribusiness, and high technology and biotechnology manufacturing and services. See Kentucky Statutes 154.1-010
• Private sector: means any source other than the authority, a state or federal entity,
  or an agency thereof. See Kentucky Statutes 154.1-010
• 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.
• Secretary: means the secretary of the Cabinet for Economic Development. See Kentucky Statutes 154.35-010
• 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.
• Year: means calendar year. See Kentucky Statutes 446.010