Definitions

# (1)

''American Institute of Certified Public Accountants (AICPA)'' shall mean the organization which establishes financial, accounting and auditing procedures to which certified public accounts (CPA's) must adhere.

# (2)

''Applicant'' or ''the applicant'' shall mean, as the context of these regulations shall require:

# (a)

An entity undertaking an infrastructure project which applies to the Commission for eligibility certification with respect to that project; or,

# (b)

An entity which applies to the Commission for a tax credit voucher after eligibility certification for an infrastructure project.

# (3)

''Commission'' shall mean the Connecticut Commission on Culture and
Tourism.

# (4)

''Commissioner'' shall mean the Commissioner of Revenue Services.

# (5)

''Detailed cost report'' or ''cost report'' shall mean the itemized listing of eligible expenditures filed with the Commission in connection with an application for a tax credit voucher.

# (6)

''Eligible expenditures'' means ''Eligible expenditures'' as defined in section 12-217kk of the Connecticut General Statutes.

# (7)

''Eligibility certification as a state certified project'' or ''eligibility certification'' shall mean the written notice issued by the Commission certifying that an applicant's infrastructure project is a state-certified project.

# (8)

''Estimated cost report'' shall mean the itemized listing of projected eligible expenditures filed with the Commission in connection with an application for eligibility certification.

# (9)

''Financial Accounting Standards Board (FASB)'' shall mean the board designated by the AICPA to have the authority to set and specify generally accepted accounting principles (GAAP).

# (10)

''Income year'' shall mean the period established by an applicant for federal income tax purposes.

# (11)

''Infrastructure project'' or ''project'' means ''Infrastructure project'' as defined in section 12-217kk of the Connecticut General Statutes.

# (12)

''Investment'' shall mean the total eligible expenditures for an infrastructure project which an applicant establishes to the satisfaction of the Commission.

# (13)

''State'' shall mean the State of Connecticut.

Commission on Culture and Tourism

# (14)

''State-certified project'' means ''State-certified project'' as defined in section 12-217kk of the Connecticut General Statutes.

# (15)

''State-certified project tax credit voucher'' or ''voucher'' shall mean the document issued by the Commission evidencing the tax credit authorized under the provisions of section 12-217kk of the Connecticut General Statutes and sections 12-217kk-1 through 12-217kk-13, inclusive, of the Regulations of Connecticut State Agencies.