Terms Used In Tennessee Code > Title 4 > Chapter 3 > Part 2 - Department of Agriculture

• Affiliate: means :
  (A)

  (i) Any person who, directly or indirectly, beneficially owns, controls or holds the power to vote fifteen percent (15%) or more of the outstanding voting securities or other voting ownership interest of a TNInvestco or insurance company. See Tennessee Code 4-28-102
• Agriculture: means :
  (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105
• Allocation date: means the date on which investment tax credits under §. See Tennessee Code 4-28-102
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Base investment amount: means fourteen million dollars ($14,000,000) in the case of a qualified TNInvestco receiving one (1) allocation of tax credits and twenty eight million dollars ($28,000,000) in the case of a qualified TNInvestco receiving two (2) allocations of tax credits, which must be available in cash or cash equivalents immediately following the investment by a TNInvestco's participating investors and its owners. See Tennessee Code 4-28-102
• 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.
• Designated capital: means an amount of money that is invested by a participating investor in a qualified TNInvestco. See Tennessee Code 4-28-102
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Highway: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
• Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• Livestock: means all equine as well as animals that are being raised primarily for use as food or fiber for human utilization or consumption including, but not limited to, cattle, sheep, swine, goats, and poultry. See Tennessee Code 1-3-105
• Municipal corporation: means any incorporated city or town in this state and any utility district created pursuant to chapter 82 of this title. See Tennessee Code 7-35-401
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Participating investor: means any insurance company required to pay the gross premiums tax pursuant to §. See Tennessee Code 4-28-102
• 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 any natural person or entity, including, but not limited to, a corporation, general or limited partnership, trust or limited liability company. See Tennessee Code 4-28-102
• Profit share percentage: means a fee paid to the state by a qualified TNInvestco as provided in §. See Tennessee Code 4-28-102
• Program end date: means December 31, 2024. See Tennessee Code 4-28-102
• Project for a private purpose: includes , but is not limited to:
  (a) Any commercial project, commercial subdivision, private residence or residential subdivision that is owned by a nonpublic entity. See Tennessee Code 7-35-401
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Qualified business: means a business that is independently owned and operated and meets all of the following requirements:
  (i) It is headquartered in this state, its principal business operations are located in this state, and at least sixty percent (60%) of its employees are located in this state. See Tennessee Code 4-28-102
• Qualified investment: means the investment of cash by a qualified TNInvestco in a qualified business for the purchase of equity, equity options, warrants, or debt convertible to equity. See Tennessee Code 4-28-102
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Sewerage system: means all or any part of the following:
  (A) The collecting system. See Tennessee Code 7-35-401
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• State premium tax liability: means any liability incurred by an insurance company under §. See Tennessee Code 4-28-102
• Statute: A law passed by a legislature.
• TNInvestco: means a partnership, corporation, trust or limited liability company, whether organized on a for-profit or not-for-profit basis that completes the application process in §. See Tennessee Code 4-28-102
• Waterworks system: means all or any part of the following:
  (A) Source of supply. See Tennessee Code 7-35-401
• Works: means the waterworks or sewerage system. See Tennessee Code 7-35-401
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105