Minnesota Statutes Economic Development and Planning (Ch. 116J-116O) § 116J.996. Military reservist economic injury and veteran-owned small business loans

Subdivision 1. Definitions. (a) The definitions in this subdivision apply to this section.

(b) “Active service” has the meaning given in section 190.05.

(c) “Commissioner” means the commissioner of employment and economic development.

(d) “Eligible business” means a small business, as defined in section 645.445, that was operating in Minnesota on the date a military reservist received orders for active service.

(e) “Essential employee” means a military reservist who is an owner or employee of an eligible business and whose managerial or technical expertise is critical to the day-to-day operation of the eligible business.

(f) “Military reservist” means a member of the reserve component of the armed forces.

(g) “Reserve component of the armed forces” has the meaning given it in United States Code, title 10, section 101(c).

(h) “Substantial economic injury” means an economic harm to an eligible business that results in the inability of the eligible business to:

(i) “Veteran-owned small business” means a small business, as defined in section 645.445, that is majority-owned and operated by a recently separated veteran.

(1) eligible businesses that have sustained or are likely to sustain substantial economic injury as a result of the call to active service for 180 days or more of an essential employee; or

(2) recently separated veterans who are veterans as defined in section 197.447, and have served in active military service, at any time on or after September 11, 2001, to start a veteran-owned small business.