Terms Used In Rhode Island General Laws > Chapter 42-64.28 - Innovation Initiative

• 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
• Commerce corporation: means the Rhode Island commerce corporation established pursuant to § 42-64-1 et seq. See Rhode Island General Laws 42-64.28-2
• 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.
• 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.
• Manufacturer: shall mean any entity that:

  (i)  Uses any premises within the state primarily for the purpose of transforming raw materials into a finished product for trade through any or all of the following operations: adapting, altering, finishing, making, processing, refining, metalworking, and ornamenting, but shall not include fabricating processes incidental to warehousing or distribution of raw materials, such as alteration of stock for the convenience of a customer; or

  (ii)  Is described in codes 31-33 of the North American Industry Classification system, as revised from time to time. See Rhode Island General Laws 42-64.28-2

• Match: shall mean a funding match, or in kind services provided by a third party. See Rhode Island General Laws 42-64.28-2
• 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.
• Small business: means a business that is resident in Rhode Island, has its business facility located within the state, and employs five hundred (500) or fewer persons. See Rhode Island General Laws 42-64.28-2