Definitions. — Guam Code § 50302

§ 50302. Definitions.

For purposes of this Section, except as otherwise specifically provided, the following words and

phrases, together with all of the common derivatives thereof (i.e. verbs, plurals, feminine, gender, etc.) shall

have the meaning ascribed to them in this Section.

(a) “applicant” means a small or midsize business;

(b) “Administrator” means the Administrator of the Guam Economic Development Authority;

(c) “eligible government project” means a project that will affect one or more small or mid-size

businesses as a result of construction work because the construction is anticipated to impair access for

a minimum period of one month;

(d) “project” means any improvement or alteration to real property, including demolition work to

clear a site;

(e) “government” means the government of Guam or its instrumentality;

COL 2024-12-05

(f) “small business” means a business that generates gross profit less than or equal to Two

Hundred Thousand Dollars ($200,000) on an annual basis, and is located in an area that is adjacent to

an eligible government project;

(g) “mid-size business” means a business that generates gross profit less than or equal to One

Million Dollars ($1,000,000) and gross sales less than or equal to Two Million Dollars ($2,000,000)

on an annual basis, and is located in an area that is adjacent to an eligible government project; and

(h) “Program” means the Government of Guam Mitigation Program for Business Interruption.