Definitions

(a) "Award of a Grant" means the date of receipt by a business organization of the proceeds of any grant made to it by the department or the date specified in a contract, agreement or audit executed by the department and a business organization in connection with the provision of a grant. (b) "Business Organization" means any private sole proprietorship, partnership, corporation or other entity, with twenty-five (25) employees or more, duly engaged in for-profit activities in the State of Connecticut, which receives a loan or grant directly from the department or indirectly through a municipality. (c) "Commissioner" means the commissioner of economic development. (d) "Department" means the department of economic development. (e) "Legitimate Hardship" means any combination of factors which adversely impact upon a business organization, including but not limited to labor, financial, regulatory, or market conditions, and which, in the sole discretion of the commissioner, are of such magnitude that a deferral of repayment of any loan or grant is necessary to ensure the continued operations of the business organization or to ensure continued employment by such business organization of its employees within the state. (f) "Relocate" means the physical transfer of the operations of a business organization in its entirety, or of any division of a business organization which independently receives any grant or loan from the state, from the location such business or division occupied at the time it accepted the grant or loan to another location.