(1) For the purposes of this subchapter, the term:(1) “Agency” when written in lower case, means an agency, department, office, board, commission, or instrumentality of the executive branch of the Government of the Virgin Islands.(2) “Business enterprise” means a business entity organized for profit.(3) “Certified business enterprise” means a business enterprise or joint venture certified pursuant to section 1270c of this subchapter.(4) “Department” means the Department of Property and Procurement established in title 3 of this Code.(5) “Chief Executive Officer” means the Chief Executive Officer of the Small Business Development Agency established in subchapter me of this chapter.(6) “Disadvantaged business enterprise” means a business enterprise as described in section 1270c, subsection (c).(7) “Economically disadvantaged individual” means an individual whose ability to compete in the free enterprise system is impaired because of diminished opportunities to obtain capital and credit as compared to others in the same line of business where such impairment is related to the individual’s status as socially disadvantaged. An individual is socially disadvantaged if the individual has reason to believe that the prejudice or bias to which the individual has been subjected is because of the individual’s identity as a member of a group without regard to the individual’s qualities as an individual.(8) “Expendable budget” means the total budget of an agency, reduced by such funding sources, object classes, objects, and other items as identified by the Commissioner through rulemaking.(9) “Joint venture” means a combination of property, capital, efforts, skills, or knowledge of 2 or more persons or businesses to carry out a single project.(10) “Local business enterprise” means a business enterprise as described in section 1270c, subsection (a).(11) “Longtime-resident business” means a business that has been continuously eligible for certification as a local business enterprise, as defined in section 1270c, subsection (a) for at least 10 consecutive years.(12) “Resident-owned business” means a local business enterprise owned by an individual who is, or a majority number of individuals who meet the definition of a “resident”, as defined in 29 V.I.C. § 1003(9) and subject to personal income tax in the Virgin Islands.(13) “Small business enterprise” means a business enterprise as described in section 1270c, subsection (b).
(1) “Agency” when written in lower case, means an agency, department, office, board, commission, or instrumentality of the executive branch of the Government of the Virgin Islands.
(2) “Business enterprise” means a business entity organized for profit.
(3) “Certified business enterprise” means a business enterprise or joint venture certified pursuant to section 1270c of this subchapter.
(4) “Department” means the Department of Property and Procurement established in title 3 of this Code.
(5) “Chief Executive Officer” means the Chief Executive Officer of the Small Business Development Agency established in subchapter me of this chapter.
(6) “Disadvantaged business enterprise” means a business enterprise as described in section 1270c, subsection (c).
(7) “Economically disadvantaged individual” means an individual whose ability to compete in the free enterprise system is impaired because of diminished opportunities to obtain capital and credit as compared to others in the same line of business where such impairment is related to the individual’s status as socially disadvantaged. An individual is socially disadvantaged if the individual has reason to believe that the prejudice or bias to which the individual has been subjected is because of the individual’s identity as a member of a group without regard to the individual’s qualities as an individual.
(8) “Expendable budget” means the total budget of an agency, reduced by such funding sources, object classes, objects, and other items as identified by the Commissioner through rulemaking.
(9) “Joint venture” means a combination of property, capital, efforts, skills, or knowledge of 2 or more persons or businesses to carry out a single project.
(10) “Local business enterprise” means a business enterprise as described in section 1270c, subsection (a).
(11) “Longtime-resident business” means a business that has been continuously eligible for certification as a local business enterprise, as defined in section 1270c, subsection (a) for at least 10 consecutive years.
(12) “Resident-owned business” means a local business enterprise owned by an individual who is, or a majority number of individuals who meet the definition of a “resident”, as defined in 29 V.I.C. § 1003(9) and subject to personal income tax in the Virgin Islands.
(13) “Small business enterprise” means a business enterprise as described in section 1270c, subsection (b).