§ 143B-437.51. Definitions. - North Carolina Statutes

§ 143B‑437.51. Definitions.

The following definitionsapply in this Part:

(1)        Agreement. – Acommunity economic development agreement under G.S. 143B‑437.57.

(2)        Base period. – Theperiod of time set by the Committee during which new employees are to be hiredfor the positions on which the grant is based.

(3)        Business. – Acorporation, sole proprietorship, cooperative association, partnership, Scorporation, limited liability company, nonprofit corporation, or other form ofbusiness organization, located either within or outside this State.

(4)        Committee. – TheEconomic Investment Committee established pursuant to G.S. 143B‑437.54.

(4a)      Development tier. – Theclassification 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 employeein this State during the base period.

(6)        Full‑timeemployee. – A person who is employed for consideration for at least 35 hours aweek, whose wages are subject to withholding under Article 4A of Chapter 105 ofthe General Statutes, and who is determined by the Committee to be employed ina permanent position according to criteria it develops in consultation with theAttorney General. The term does not include any person who works as an independentcontractor or on a consulting basis for the business.

(7)        New employee. – Afull‑time employee who represents a net increase in the number of thebusiness's employees statewide.

(8)        Overdue tax debt. – Definedin G.S. 105‑243.1.

(9)        Related member. – Definedin G.S. 105‑130.7A.

(10)      Withholdings. – Theamount withheld by a business from the wages of employees in eligible positionsunder 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).)