{"data":{"id":"us-ky/krs-154.60-010","jurisdiction":"us-ky","citation":"KRS 154.60-010","heading":"Definitions for subchapter.","body":"As used in this subchapter:\n(1) \"Authority\" means the Kentucky Economic Development Finance Authority;\n(2) (a) \"Average hourly wage\" means the per -hour wage earned by a full -time\nemployee, including wages, tips, overtime, bonuses, and commissions, as\nreflected on the employee's federal form W-2 wage and tax statement.\n(b) \"Average hourly wage\" does not include employee benefits as defined in KRS\n154.32-010, including health insurance and reimbursements;\n(3) \"Base employment\" means:\n(a) For the first application for which credits are appro ved, the number of full -\ntime employees employed on the day prior to the work start date of the new\nemployee filling the earliest eligible position identified on the application;\n(b) For subsequent applications, the number of full -time employees employed on\nthe day prior to the work start date of the new employee filling the earliest\neligible position identified on the initial approved application plus each\neligible position for which a credit has been approved; and\n(c) For applications from businesses invol ved in mergers, acquisitions, or federal\ntax identification number changes, base employment may be adjusted by the\nCabinet for Economic Development;\n(4) \"Eligible position\" means each position that:\n(a) Is filled by a full -time employee and that increases the total employment of\nthe small business above its base employment; and\n(b) Carries an average hourly wage of no less than one hundred fifty percent\n(150%) of the federal minimum wage;\n(5) \"Full-time employee\" means a person employed by a small business for at least an\naverage of thirty -five (35) hours per week and subject to the state tax imposed by\nKRS 141.020;\n(6) \"Qualifying equipment or technology\" means equipment or technology that has\nbeen approved by the Office of Entrepreneurship and Innovation; and\n(7) \"Small business\" means any business entity organized for profit that has been\napproved by the Office of Entrepreneurship and Innovation, including a sole\nproprietorship, partnership, limited part nership, corporation, limited liability\ncompany, joint venture, association, or cooperative, that has fifty (50) or fewer\nemployees working more than thirty -five (35) hours per week, whether within or\noutside the Commonwealth, at the time it applies.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=53853","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:57Z","sha256":"7a5da8898cd15d97e379f653bda7efcc14d69299e80710d33e0f1a68060402ab","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.60-005","next":"us-ky/krs-154.60-020"},"notice":"GroundRules: Original legal text. Not legal advice."}