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8.99.901    DEFINITIONS

As used in this chapter, the following definitions apply:

(1) "Account" means the Big Sky Economic Development Special Revenue Account established in 90-1-205, MCA.

(2) "Award" means a grant under this program to an eligible applicant.

(3) "Basic sector company" means:

(a) a business that generates more than 50% of their total dollar sales from outside Montana;

(b) more than 50% of their product or services enters into the production of products exported outside of Montana; or

(c) a business defined as a "value-adding business" by the Montana Board of Investments.

(4) "Big Sky Economic Development Fund" means the fund established in 17-5-703, MCA.

(5) "Business" means the business enterprise for which the project is being undertaken.

(6) "Certified regional development corporation" means the organization provided for in 90-1-116, MCA.

(7) "Department" means the Department of Commerce provided for in 2-15-1801, MCA.

(8) "Director" means the director of the Department of Commerce.

(9) "Economic development organization" means:

(a) a private, nonprofit corporation, as provided in Title 35, chapter 2, MCA, that is exempt from taxation under section 501(c)(3) or 501(c)(6) of the Internal Revenue Code, 26 USC 501(c)(3) or 501(c)(6);

(b) an entity certified by the department under 90-1-116, MCA;

(c) an entity established by a local government; or

(d) an entity actively engaged in economic development and business assistance work in a region of the state.

(10) "Eligible economic development organization" means an economic development organization that is located in a county that is not part of a certified regional development corporation region, and which meets the eligibility requirements established by the department and published by it in the Big Sky Economic Development Trust Fund Application Guidelines dated 2011.

(11) "Eligible job" means a new full-time job that provides wages that meet or exceed the current average weekly wage of the county in which the employee is to be principally employed.

(12) "Full-time job" means a job that provides at a minimum, an average of 35 working hours per week on an annual basis.

(13) "High-poverty county" means a county in this state in which 14% or more of people of all ages are in poverty as determined by the U.S. Bureau of the Census estimates for the most current year available.

(14) "Industrial development" means the support of the act or the process of enhancing the business environment for productive, profit-making enterprises.

(15) "Local government" means a county, consolidated government, city, town, or district or local public entity with the authority to spend or receive public funds.

(16) "Program" means the Big Sky Economic Development Program established in 90-1-201, MCA.

(17) "Project" means an economic development project for which assistance is requested under this program.

(18) "Tribal government" means any state or federally recognized Indian tribe within the state of Montana.

History: 90-1-201, MCA; IMP, 90-1-201, MCA; NEW, 2005 MAR p. 2449, Eff. 12/9/05; AMD, 2007 MAR p. 346, Eff. 3/23/07; AMD, 2008 MAR p. 324, Eff. 2/15/08; AMD, 2009 MAR p. 141, Eff. 2/13/09; AMD, 2010 MAR p. 738, Eff. 3/26/10; AMD, 2010 MAR p. 2811, Eff 12/10/10.

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