460 IAC 14.1-12-1 Definitions

Sec. 1. The following definitions apply throughout this rule: (1) "Business review committee" means a panel of individuals consisting of business professionals and representatives of the VR program selected by the VR program to provide business mentoring and guidance to a participant pursuing self-employment. (2) "Start-up costs" means those costs necessary to establish a business, initiate business operations, and sustain operations throughout the approved start-up period documented in the participant's individualized plan for employment. (3) "Start-up period" means the period, not exceeding twenty-four (24) months, beginning on the date of the authorization of start-up costs and ending on the date: (A) documented in the participant's individualized plan for employment as the terminating point of the initial start-up period; or (B) on which the revenues generated by the business exceed the costs of continuing business operations for three (3) consecutive months; whichever is earlier. (4) "Ongoing operating costs" means the costs of business operations after the conclusion of the start-up period, including: (A) costs of day-to-day business operations; (B) tool and equipment repair; (C) replacement and upgrading; and (D) business relocation and expansion.