{"data":{"id":"us-ky/krs-154.25-010","jurisdiction":"us-ky","citation":"KRS 154.25-010","heading":"Definitions for subchapter.","body":"As used in this subchapter:\n(1) \"Activation date\" means a date selected by an approved company and set forth in\nthe jobs retention agreement at any time within a three (3) year period after the date\nof final approval of the agreement by the authority upon which the required\ninvestment shall be made and the jobs retention project completed;\n(2) \"Agreement\" means a jobs retention agreement entered into pursuant to KRS\n154.25-030 on behalf of the authority and an approved company with respect to a\njobs retention project;\n(3) \"Agribusiness\" has the same meaning as in KRS 154.32-010;\n(4) \"Approved company\" means any eligible company approved by the authority\npursuant to KRS 154.25-030 for a jobs retention project;\n(5) \"Approved costs\" means that portion of the eligible costs approved by the aut hority\nthat an approved company may recover through the inducements authorized by\nKRS 154.25-030, being a percentage of eligible costs as approved by the authority;\n(6) \"Assessment\" means the wage assessment fee authorized by KRS 154.25-040;\n(7) \"Authority\" means the Kentucky Economic Development Finance Authority\ncreated by KRS 154.20-010;\n(8) \"Commonwealth\" means the Commonwealth of Kentucky;\n(9) \"Eligible company\":\n(a) Means any corporation, limited liability company, partnership, limited\npartnership, sole proprietorship, business trust, or any other entity that has\nbeen operating within the Commonwealth on a continuous basis for at least\nsixty (60) months preceding the request for approval by the authority of the\nproject which meets the standards set forth in KRS 154.25 -020, has been\npreviously approved for economic development incentives from the\nCommonwealth related to one (1) or more of its facilities, and employs a\nminimum of two hundred fifty (250) full -time persons for a project located in\na heritage county or one thousand (1,000) full -time persons for a project\nlocated in any other county, engaged in one (1) or more of the following\nactivities:\n1. Manufacturing;\n2. Agribusiness;\n3. Nonretail service or technology; or\n4. Headquarters operations, regardless of the underlying business activity\nof the company; and\n(b) Does not include companies where the primary activity to be conducted\nwithin the Commonwealth is forest ry, fishing, mining, coal or mineral\nprocessing, the provision of utilities, construction, wholesale trade, retail\ntrade, real estate, rental and leasing, educational services, accommodation and\nfood services, or public administration services;\n(10) \"Eligible costs\" means:\n(a) Obligations incurred for labor and to vendors, contractors, subcontractors,\nbuilders, suppliers, deliverymen, and materialmen in connection with the\nacquisition, construction, equipping, rehabilitation, and installation of a jobs\nretention project;\n(b) The cost of contract bonds and of insurance of all kinds that may be required\nor necessary during the course of a jobs retention project which is not paid by\nthe vendor, supplier, deliveryman, contractor, or otherwise provided;\n(c) All costs of architectural and engineering services, including estimates, plans\nand specifications, preliminary investigations, and supervision of\nconstruction, rehabilitation, and installation, as well as for the performance of\nall the duties required by or co nsequent upon the acquisition, construction,\nequipping, rehabilitation, and installation of a jobs retention project;\n(d) All costs required to be paid under the terms of any contract for the\nacquisition, construction, equipping, rehabilitation, and instal lation of a jobs\nretention project;\n(e) All costs required for the installation of utilities, including but not limited to\nwater, sewer, sewer treatment, gas, electricity, communications, and railroads,\nand including off -site construction of the facilities  paid for by the approved\ncompany; and\n(f) All other costs comparable with those described above;\n(11) \"Final approval\" means the action taken by the authority authorizing the eligible\ncompany to receive inducements under this subchapter;\n(12) \"Headquarters\" has the same meaning as in KRS 154.32-010;\n(13) \"Heritage county\" means a county where the county population ranking determined\nby the cabinet under KRS 154.21 -017 scores greater than or equal to ninety -seven\n(97);\n(14) \"Inducements\" means the Kentucky tax credit and the wage assessment fee as\nprescribed in KRS 154.25-030 and 154.25-040;\n(15) \"Jobs retention project\" or \"project\" means the acquisition, construction, and\ninstallation of new equipment and, with respect thereto, the construction,\nrehabilitation, and installation of improvements to facilities necessary to house the\nacquisition, construction, and installation of new equipment, including surveys;\ninstallation of utilities, including water, sewer, sewage treatment, gas, electricity,\ncommunications, and similar facilities; off -site construction of utility extensions to\nthe boundaries of the real estate on which the facilities are located; and shall contain\neligible costs of not less than twenty-five million dollars ($25,000,000) for a project\nlocated in a heritage county or one hundred million dollars ($100,000,000) for a\nproject located in any other county, all of which are utilized to improve the\neconomic and operational situation of an approved company to allow the approved\ncompany to reinvest i n its operations and retain a significant number of existing\njobs within the Commonwealth;\n(16) \"Kentucky gross profits\" means Kentucky gross profits as defined in KRS\n141.0401;\n(17) \"Kentucky gross receipts\" means Kentucky gross receipts as defined in KRS\n141.0401;\n(18) \"Manufacturing\" has the same meaning as in KRS 154.32-010;\n(19) \"Nonretail service or technology\" has the same meaning as in KRS 154.32-010;\n(20) \"Preliminary approval\" means the action taken by the authority conditioning final\napproval by the authority upon satisfaction by the eligible company of the\nrequirements under this subchapter;\n(21) \"Supplemental project\" means an additional jobs retention project proposed by the\napproved company or its affiliate during the term of a previously appr oved jobs\nretention project, which may be included in the jobs retention agreement by way of\namendment and which may result in increased inducements and an extension of the\noriginal project term as set forth in KRS 154.25-050; and\n(22) \"Transferred credits \" means unused approved costs as determined by the\nDepartment of Revenue from a previously approved, independent, active project\nunder a different incentive program governed by the Cabinet for Economic\nDevelopment that may be transferred to a jobs retentio n project and used by the\napproved company pursuant to a jobs retention agreement.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57121","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:55Z","sha256":"83fc88bf7f806b8872d107dcb43e34dfa3fb5bbd3c0cbbdfbaa308c63eca9fb6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.240","next":"us-ky/krs-154.25-020"},"notice":"GroundRules: Original legal text. Not legal advice."}