Section 53B-7-702 - DefinitionsAs used in this part:
(1) "Account" means the Performance Funding Restricted Account created in Section 53B-7-703.(2) "Estimated revenue growth from targeted jobs" means the estimated increase in individual income tax revenue generated by individuals employed in targeted jobs, determined in accordance with Sections 53B-7-703 and 53B-7-704.(3) "Full new performance funding amount" means the maximum amount of new performance funding that a degree-granting institution or technical college may qualify for in a fiscal year, determined by the Legislature in accordance with Section 53B-7-705.(4) "Full-time" means the number of credit hours the board determines is full-time enrollment for a student.(5) "New performance funding" means the difference between the total amount of money in the account and the amount of money appropriated from the account for performance funding in the current fiscal year.(6) "Performance" means total performance across the metrics described in Section 53B-7-706.(7) "Targeted job" means a four- and five-star job that requires postsecondary training as designated by the Department of Workforce Services.(8) "Technical college" means: (a) the same as that term is defined in Section 53B-1-101.5; or(b) a degree-granting institution acting in the degree-granting institution's technical education role described in Section 53B-2a-201.Amended by Chapter 378, 2024 General Session ,§ 23, eff. 5/1/2024.Amended by Chapter 159, 2024 General Session ,§ 1, eff. 5/1/2024.Amended by Chapter 282, 2021 General Session ,§ 23, eff. 7/1/2021.Amended by Chapter 351, 2021 General Session ,§ 2, eff. 5/5/2021.Amended by Chapter 187, 2021 General Session ,§ 34, eff. 5/5/2021, coordination clause.Amended by Chapter 365, 2020 General Session ,§ 83, eff. 7/1/2020.Amended by Chapter 382, 2017 General Session ,§ 75, eff. 7/1/2017.Added by Chapter 365, 2017 General Session ,§ 4, eff. 5/9/2017.