Terms Used In Nebraska Statutes > Nebraska Transformational Projects Act

• Applicant: means a postsecondary institution having a college of medicine located in the State of Nebraska. See Nebraska Statutes 81-12,170
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Continuation period: means the period of five years immediately following the end of the transformational period. See Nebraska Statutes 81-12,171
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Date of application: means the date that a completed application is filed under the Nebraska Transformational Projects Act. See Nebraska Statutes 81-12,172
• Director: means the Director of Economic Development. See Nebraska Statutes 81-12,173
• Donor: The person who makes a gift.
• 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.
• Investment: means the amount paid by the applicant for:

  (1) Real property that is (a) constructed after the date of application, (b) owned by the applicant, (c) located at the qualified location, and (d) used to carry out the project. See Nebraska Statutes 81-12,174

• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Matching funds: means the funds provided toward investment at a project by the State of Nebraska pursuant to section Nebraska Statutes 81-12,175
• 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: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
• Private dollars: means dollars donated to the applicant specifically for the project by any combination of one or more of the following:

  (a) An individual. See Nebraska Statutes 81-12,176

• Private dollars does not: include any direct or indirect funding from any federal, state, or local government. See Nebraska Statutes 81-12,176
• Project: means an investment by the applicant of at least one billion six hundred million dollars at one qualified location which is made to carry out the requirements for the qualified location to be included in the program described in Title VII, Subtitle C, section 740 of Public Law 116-92. See Nebraska Statutes 81-12,177
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Qualified location: means any parcel of real property, or contiguous or adjacent parcels of real property, within the State of Nebraska that is or are owned by the applicant, and such other parcels owned by the applicant that are necessary to support the applicant's project at such parcel or parcels. See Nebraska Statutes 81-12,178
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Related entity: means any entity which is a subsidiary or affiliated entity of the applicant or which has, as one of its purposes for existence, the financial support of the applicant. See Nebraska Statutes 81-12,179
• Related entity means any entity which: is a subsidiary or affiliated entity of the applicant or which has, as one of its purposes for existence, the financial support of the applicant. See Nebraska Statutes 81-12,179
• State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
• Transformational period: means the period of time from the date of the complete application through the earlier of (1) the end of the tenth year after the year in which the complete application was filed with the director or (2) the end of the year in which the applicant attains the one-billion-six-hundred-million-dollar investment requirement. See Nebraska Statutes 81-12,180
• United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
• Year: means the fiscal year of the State of Nebraska. See Nebraska Statutes 81-12,181