§ 5-28-42-1 — "Eligible entity"

Indiana § 5-28-42-1

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 42: Hoosier Hospitality Small Business Restart Grant

Text

As used in this chapter, "eligible entity" means
a qualified business that meets the following requirements:
(1) The qualified business had less than one hundred (100) full
time employees as of December 31, 2019.
(2) The qualified business was established before October 1,
2019.
(3) The qualified business is in good standing with the state
department of revenue or has entered into a payment plan
approved by the state department of revenue.
(4) The qualified business was profitable in calendar year 2019,
as determined by the corporation using the earnings before
interest, taxes, depreciation, and amortization (EBITDA) metric.
(5) The qualified business did not have greater than ten million
dollars ($10,000,000) in gross revenue during calendar year 2019.
(6) The qualified business demonstrates monthly gross revenue
loss of at least thirty percent (30%) when comparing average
monthly gross revenue for calendar year 2020 to average monthly
gross revenue for calendar year 2019.

Legislative History

As added by P.L.82-2021, SEC.1.