(1) "Council" means the Advisory Coordinating Council for Economic Development.
(2) "Department" means the South Carolina Department of Revenue.
(3) "Employee" means an employee of the qualifying business who works full time within the enterprise zone.
(4) "Gross wages" means wages subject to withholding.
(5) "Job development credit" means the amount a qualifying business may claim as a credit against employee withholding pursuant to Sections 12-10-80 and 12-10-81 and a revitalization agreement.
(6) "New job" means a job created or reinstated as defined in Section 12-6-3360(M)(3).
(7) "Qualifying business" means a business that meets the requirements of Section 12-10-50 and other applicable requirements of this chapter and, where required pursuant to Section 12-10-50, enters into a revitalization agreement with the council to undertake a project pursuant to the provisions of this chapter.
(8) "Project" means an investment for one or more purposes pursuant to this chapter needed for a qualifying business to locate, remain, or expand in this State and otherwise fulfill the requirements of this chapter.
(9) "Preliminary revitalization agreement" means the application by the qualifying business for benefits pursuant to Section 12-10-80 if the council approves the application and agrees in writing at the time of approval to allow the approved application to serve as the preliminary revitalization agreement. The date of the preliminary revitalization agreement is the date of the council approval.
(10) "Revitalization agreement" means an executed agreement entered into between the council and a qualifying business that describes the project and the negotiated terms and conditions for a business to qualify for a job development credit pursuant to Section 12-10-80 or 12-10-81.
(11) "Qualifying expenditures" means those expenditures that meet the requirements of Section 12-10-80(C) or 12-10-81(D).
(12) "Withholding" means employee withholding pursuant to Chapter 8 of this title.
(13) "Technology employee" means an employee whose job qualifies for jobs tax credit pursuant to Section 12-6-3360(M)(14).