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