154.60-010 Definitions for subchapter.
As used in this subchapter: <br>(1) "Average hourly wage" has the same meaning as in KRS 154.28-010; <br>(2) "Base employment" means:
(a) For the initial year for which credits are claimed, the number of full-time
employees employed on December 31 of the base year; and
(b) For subsequent years, the greater of:
1.
The number of full-time employees employed on December 31 of the <br>base year plus each eligible position for which a credit has been claimed <br>under KRS 141.384; or
2.
The number of full-time employees employed on December 31 of the <br>prior year;
(3) "Base year" means the later of the first full year of operation of a small business or
the year that begins on or after January 1, 2009, and before January 1, 2010;
(4) "Creates and fills" means establishes a new eligible position and hires a full-time
employee and replaces that employee within thirty (30) days if the employee ceases <br>for any reason to be employed by the employer;
(5) "Eligible position" means each position that:
(a) Is filled by a full-time employee and that increases the total employment of the
small business above its base employment; and
(b) Carries a base hourly wage of no less than one hundred fifty percent (150%)
of the federal minimum wage;
(6) "Full-time employee" means a person employed by a small business for at least
thirty-five (35) hours per week and subject to the state tax imposed by KRS <br>141.020;
(7) "Qualifying equipment or technology" means equipment or technology that has
been approved by the Division of Small Business Services; and
(8) "Small business" has the same meaning as in KRS 154.12-325.
Effective: June 4, 2010 <br>History: Amended 2010 (1st Extra. Sess.) Ky. Acts ch. 2, sec. 11, effective June 4,
2010. -- Created 2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 65, effective June 26, <br>2009.
Legislative Research Commission Note (6/26/2009). 2009 (1st Extra. Sess.) Ky. Acts
ch. 1, sec. 73, provided that this statute and KRS 154.60-020 and 154.60-030 "shall <br>be known as the Emergency Small Business Stimulus Act."
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