The following definitions apply in this Part:
(1) Agreement. - A community economic development agreement under G.S. 143B-437.57.
(2) Base period. - The period of time set by the Committee during which new employees are to be hired for the positions on which the grant is based.
(3) Business. - A corporation, sole proprietorship, cooperative association, partnership, S corporation, limited liability company, nonprofit corporation, or other form of business organization, located either within or outside this State.
(4) Committee. - The Economic Investment Committee established pursuant to G.S. 143B-437.54.
(4a) Development tier. - The classification assigned to an area pursuant to G.S. 143B-437.08.
(5) Eligible position. - A position created by a business and filled by a new full-time employee in this State during the base period.
(6) Full-time employee. - A person who is employed for consideration for at least 35 hours a week, whose wages are subject to withholding under Article 4A of Chapter 105 of the General Statutes, and who is determined by the Committee to be employed in a permanent position according to criteria it develops in consultation with the Attorney General. The term does not include any person who works as an independent contractor or on a consulting basis for the business.
(7) New employee. - A full-time employee who represents a net increase in the number of the business's employees statewide.
(8) Overdue tax debt. - Defined in G.S. 105-243.1.
(9) Related member. - Defined in G.S. 105-130.7A.
(10) Withholdings. - The amount withheld by a business from the wages of employees in eligible positions under Article 4A of Chapter 105 of the General Statutes. (2002-172, s. 2.1(a); 2003-416, s. 2; 2003-435, 2nd Ex. Sess., s. 2.1; 2006-168, s. 1.1; 2006-252, s. 2.6; 2006-264, s. 69(a).)
Sections: Previous 143B-437.8 143B-437.10 143B-437.11 143B-437.14 through 143B-437.16 143B-437.14 through 143B-437.16 143B-437.14 through 143B-437.16 143B-437.50 143B-437.51 143B-437.52 143B-437.53 143B-437.54 143B-437.55 143B-437.56 143B-437.57 143B-437.58 Next
Last modified: March 23, 2014