Definitions

Terms used in this chapter, unless the context clearly indicates otherwise, have the following meanings: 1. "Act" means chapter 493 of the 1993 Session Laws. 2. "Applicant" means a business submitting a project application for approval by job service North Dakota. 3. "Debt service" means the payment of principal and interest on a repayable loan in accordance with the repayment schedule of the training agreement. 4. "Eligible employee" means a person employed throughout the term of the agreement in a new job position identified in the agreement and who is subject to state income tax withholding for the state of North Dakota. 5. "Full-time job" means a job providing thirty-two hours of work per week for a minimum of nine months each year. 6. "Gross payroll" means the gross wages and salaries for new jobs in the first full year after the date of commencement of the project. 7. "Preliminary agreement" means a written document between a business and job service North Dakota agreeing to pursue the development of a training project to train new employees. 8. "Program funds" means any money loaned to a business as a result of a training agreement being entered into under the Act. 9. "Reimbursable" or "project costs" means all necessary, authorized costs providing program services identified in the agreement.