Kan. Admin. Regs. § 110-13-1

Current through Register Vol. 43, No. 52, December 26, 2024

Section 110-13-1 - Definitions

As used in these regulations, the following definitions shall apply:

(a) "Act" means the rural business development tax credit program pursuant to K.S.A. 74-50,154, and amendments thereto.

(b) "Business support services" means business counseling, technical assistance, and business planning services provided to existing or prospective small businesses or entrepreneurs.

(c) "Department" means the department of commerce.

(d) "Entrepreneur" means an individual creating a new business, service, or product.

(e) "Fiscal year" means the 12-month period beginning July 1 and ending June 30.

(f) "Regional business development fund" means an authorized and audited fund that is created by taxpayer contributions, interest income, and investment income and is managed by the regional foundation board of directors for the purposes of economic and leadership development in the region.

(g) "Regional leadership development" means training and education that enable a region to develop community leadership that strengthens the economic and social environment in that region.

(h) "Secretary" means secretary of the department of commerce.

(i) "Small business" means an independently owned and operated business having fewer than 100 full-time equivalent employees.

(j) "Technology improvements" means a project that results in the ability of the region to enhance service in areas including broadband access, web site creation, wireless internet services, computer programming, computer servers, computer networks, computer databases, electronic training modules, electronic media, and any other technological areas deemed eligible by the secretary.

(k) "Utilization" means a regional foundation's demonstrated ability to obtain enough qualifying contributions to fully use all tax credits allocated to the region during the period of time in which the tax credits were allocated to the regional foundation by the secretary.

Kan. Admin. Regs. § 110-13-1

Authorized by K.S.A. 2004 Supp. 74-5002r; implementing K.S.A. 74-5005, K.S.A. 74-5007a, and K.S.A. 2004 Supp. 74-50,154; effective Aug. 12, 2005.