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(a) To be eligible to receive a grant under this chapter, an applicant must have seafood processing operations located in this state and must be
(1) licensed by this state, or be a co-applicant for a grant with a co-applicant licensed by this state, under AS 43.75.011 for 2002, 2003, or 2004; and
(2) in good standing with respect to all tax obligations to the state and be in compliance with all applicable laws.
(b) To be eligible to receive a mini-grant as described in 3 AAC 147.050(b) , in addition to meeting the requirements of (a) of this section, the applicant must meet the small business size standard for business loans and disaster loans set out in 13 C.F.R. 121.301(a), revised as of January 1, 2003, and adopted by reference.
(c) To be eligible to receive a micro-grant as described in 3 AAC 147.050(c) , in addition to meeting the requirements of (a) and (b) of this section, the applicant must have no more than 10 full-time equivalent employees. In this subsection, the applicant will be considered to have one full-time equivalent employee for each 2,040 hours worked by hourly employees of the applicant, and one full-time equivalent employee for each 50-hour work week worked by other employees of the applicant, in the calendar year preceding the year of the application.
History: Eff. 12/13/2003, Register 168
Authority: AS 44.33.020
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Last modified 7/05/2006