Section 57-121-3 - DefinitionsAs used in this chapter, the following terms shall have the meanings ascribed unless the context otherwise requires:
(a) "COVID-19" means the Coronavirus Disease 2019.(b) "CARES Act" means the Coronavirus Aid, Relief, and Economic Security Act.(c) "Eligible business" means a for-profit corporation, a limited liability company, a partnership or a sole proprietorship that:(i) Was domestic as of March 1, 2020;(ii) Is in good standing with the Secretary of State, if applicable;(iii) Suffered an interruption of business;(iv) Has a controlling interest owned by one or more Mississippi residents, whether individual resident citizens or Mississippi domestic business entities;(v) Filed Mississippi taxes for tax year 2018 or 2019, or, for an eligible business formed on or after January 1, 2020, intends to file Mississippi taxes for tax year 2020, unless exempt under Section 27-7-29, Section 27-13-63 or other applicable provision of law;(vi) Has customers or employees coming to its physical premises, conducts business on customer premises, or has an owner who is an active participant in the day-to-day operations of the business;(vii) Had no more than fifty (50) full-time equivalent employees as of March 1, 2020;(viii) Is not a subsidiary of a business with more than fifty (50) full-time equivalent employees, is not part of a larger business enterprise with more than fifty (50) full-time equivalent employees and is not owned by a business with more than fifty (50) full-time equivalent employees;(ix) Does not exist for the purpose of advancing partisan political activities, does not directly lobby federal or state officials as provided in Sections 5-8-1 through 5-8-23, and has not employed or otherwise worked with a lobbyist as defined in Section 5-8-3 in any way at any point during 2020; and(x) Does not derive income from passive investments without active participation in business operations.(d) "Interruption of business" means disruption of regular business operations resulting from required or voluntary closure related to COVID-19.(e) "Public health measure" means any action reasonably taken to prevent the spread of COVID-19 in the workplace.(f) "Eligible expense" means a cost incurred by an eligible business for public health measures or due to interruption of business. Eligible expenses due to interruption of business may consist only of mortgage interest, rent, payroll and utilities, or other COVID-19-related expenses allowed by law, each for no more than a two-month period. Eligible expenses shall not include lost profits. No cost will be considered an eligible expense if found to be ineligible under the guidelines, guidance, rules, regulations and/or other criteria, as may be amended from time to time, of the United States Department of the Treasury regarding the use of monies from the Coronavirus Relief Fund established by the CARES Act.(g) "MDA" means the Mississippi Development Authority.(h) "Grant" means an award by the MDA to an eligible business to cover eligible expenses in accordance with this chapter.(i) "Program" means the Back to Business Mississippi Grant Program established in this chapter.(j) "Minority business enterprise" means a socially and economically disadvantaged small business concern performing a commercially useful function which is owned and controlled by one or more minorities or minority business enterprises certified by the Mississippi Development Authority, at least fifty percent (50%) of whom are resident citizens of the State of Mississippi. Except as otherwise provided, for purposes of this chapter, the term "socially and economically disadvantaged small business concern" shall have the meaning ascribed to such term under the Small Business Act, 15 USC Section 637(a), or women, and the term "owned and controlled" means a business in which one or more minorities or minority business enterprises certified by the Mississippi Development Authority own sixty percent (60%) or, in the case of a corporation, sixty percent (60%) of the voting stock, and control sixty percent (60%) of the management and daily business operations of the business.Added by Laws, 2020, ch. 303, SB 2772,§ 6, eff. 5/20/2020.Added by Laws, 2020, ch. 494, SB 3053,§ 1, eff. 8/18/2020.