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154.60.010 Definitions for subchapter.

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154.60-010 Definitions for subchapter. As used in this subchapter: <br>(1) &quot;Average hourly wage&quot; has the same meaning as in KRS 154.28-010; <br>(2) &quot;Base employment&quot; 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) &quot;Base year&quot; 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) &quot;Creates and fills&quot; 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) &quot;Eligible position&quot; 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) &quot;Full-time employee&quot; 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) &quot;Qualifying equipment or technology&quot; means equipment or technology that has been approved by the Division of Small Business Services; and (8) &quot;Small business&quot; 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 &quot;shall <br>be known as the Emergency Small Business Stimulus Act.&quot;