Kentucky Revised Statutes Title XII. Conservation and State Development § 154.20-230.Definitions for KRS 154.20-230 to 154.20-240

(1) “Application” means a document submitted by small businesses and investors, on a form supplied by the authority, for the purpose of requesting certification to participate in the program and to apply for a credit;

(2) “Authority” means the Kentucky Economic Development Finance Authority;

(3) “Commonwealth” means the Commonwealth of Kentucky;

(4) “Credit” means the nonrefundable angel investor tax credit established by KRS 141.396 and awarded by the authority pursuant to KRS 154.20-236;

(5) “Department” means the Department of Revenue;

(6) “Enhanced incentive counties” has the same meaning as in KRS 154.32-010;

(7) “Entity” means any corporation, limited liability company, business development corporation, partnership, limited partnership, sole proprietorship, association, joint stock company, receivership, trust, professional service organization, or other legal entity through which business is conducted;

(8) “Fee” means a nonrefundable application fee in an amount set by the authority, to be collected by the authority to offset the cost of administering KRS 154.20-230 to 154.20-240;

(9) “Full-time employee” means a person that is required to work a minimum of thirty-five (35) hours per week and is subject to the tax imposed by KRS 141.020;

(10) “Knowledge-based” has the same meaning as in KRS 164.6011;

(12) “Qualified investment” means an investment meeting the requirements of KRS 154.20-234 for qualified investments, and certified pursuant to KRS 154.20-236;

(13) “Qualified investor” means an individual investor meeting the requirements of KRS 154.20-234 for qualified investors, and certified pursuant to KRS 154.20-236; and

(14) “Qualified small business” means an entity meeting the requirements of KRS 154.20-234 for qualified small businesses, and certified pursuant to KRS 154.20-236.