Section 164.7011 - Definitions for KRS 164.7011 to 164.7021As used in KRS 164.7011 to 164.7021:
(1) "Advisory committee" means the Kentucky Aerospace, Aviation, and Defense Investment Fund Advisory Committee established in KRS 164.7013;(2) "Aviation" means the operation, maintenance, or manufacturing of aircraft or other aerospace equipment, aerospace initiatives and efforts, and defense-related products related to aerospace and aviation;(3) "Aviation industry partner" means a grantor to the fund that the council determines customarily employs individuals with an eligible aviation or aerospace credential in a relevant aviation role in the usual course of the grantor's business;(4) "Aviation program": (a) Means an education or training program located in Kentucky that issues eligible aviation or aerospace credentials or is a specific requirement to earning an eligible aviation or aerospace credential, including but not limited to a public high school vocational program; and(b) Notwithstanding paragraph (a) of this subsection, does not include a flight training program unless that program is a certified pilot school regulated by the Federal Aviation Administration in accordance with 14 C.F.R. pt. 141 or is a public high school vocational program;(5) "Council" means the Council on Postsecondary Education;(6) "Dedicated moneys" means a gift, grant, or donation to the fund that is subject to restrictions imposed by a private grantor under KRS 164.7015;(7) "Eligible aviation credential" means: (a) Any license or certification issued by the Federal Aviation Administration;(b) A Bachelor of Science in aviation issued by a postsecondary education institution overseen or licensed by the council and located in Kentucky;(c) Any engineering degree issued by a postsecondary education institution overseen or licensed by the council and located in Kentucky; or(d) A career and technical education license or certification determined by the council, in collaboration with the advisory committee, to be in high demand and relevant to the aerospace industry;(8) "Fund" means the Kentucky aerospace, aviation, and defense investment fund established in KRS 164.7013;(9) "Grantor" means an individual or an entity that gifts, grants, or donates moneys to the fund;(10) "Immediate family" means an individual's parents, siblings, spouse, and children;(11) "Kentucky resident" means a Kentucky resident as defined by the council pursuant to KRS 164.020(8); and(12) "Public aviation program" is an aviation program that is a public high school vocational program or institution that is a member of Kentucky's public postsecondary education system.Added by 2024 Ky. Acts ch. 109,§ 1, eff. 4/5/2024.