§ 492. Definitions. For the purposes of this article:

1. "Average full-time employment" shall mean the average number of
full-time positions employed by a business entity in an eligible
industry during a given period.

2. "Average starting full-time employment" shall be calculated as the
average number of full-time positions employed by a business entity in
an eligible industry during a timeframe to be determined by the
department of economic development.

3. "Average ending full-time employment" shall be calculated as the
average number of full-time positions employed by a business entity in
an eligible industry during a timeframe to be determined by the
department of economic development.

4. "Certificate of tax credit" means the document issued to a business
entity by the department after the department has verified that the
business entity has met all applicable eligibility criteria in this
article. The certificate shall specify the exact amount of the tax
credit under this article that a business entity may claim, pursuant to
section four hundred ninety-five and section four hundred ninety-six of
this article.

5. "Commissioner" shall mean commissioner of economic development.

6. "Department" shall mean the department of economic development.

7. "Eligible business" shall mean a print media or broadcast media
business operating within an eligible industry, which also carries media
liability insurance.

8. "Eligible employee" shall mean an employee working full-time at an
eligible business, as determined by the department.

9. "Eligible industry" means a business entity operating predominantly
in the newspaper publishing sector or the broadcast media sector, as
determined by the department.

10. "Net employee increase" means an increase of at least one
full-time employee between the average starting full-time employment and
the average ending full-time employment of a business entity, as defined
by the department.

11. "Newspaper and broadcast media jobs tax credit" shall mean a tax
credit which shall provide a credit to eligible businesses operating
within eligible industries. The newspaper and broadcast media jobs tax
credit shall have two components. The newspaper and broadcast media new
job creation component shall allow a credit of five-thousand dollars per
net new job created at eligible businesses operating within eligible
industries. The newspaper and broadcast media existing jobs component
shall allow a tax credit available to support the costs related to
retention of existing jobs at eligible businesses operating within
eligible industries.

12. (a)"Broadcast media business" means any broadcast station which:

(i) has been broadcasting for at least one year prior to the tax year
for which it is applying for a credit;

(ii) owns or operates a broadcast station, as defined by section three
of the federal communications act of 1934; and

(iii) discloses its ownership to the public at such times and in such
manner as identified by the commissioner.

(b) For purposes of this paragraph each FCC licensed broadcast station
serving a separate market shall be treated as a separate broadcast media
business.

13. "Independently owned" shall mean a business entity that is not:
(a) a publicly traded entity or no more than five percent of the
beneficial ownership of which is owned, directly or indirectly by a
publicly traded entity; (b) a subsidiary; and (c) any other criteria
that the department shall determine via regulations to ensure the
business is not controlled by another business entity.