For purposes of the Small Business Stabilization Grant Program Act:

(1) Department means the Department of Economic Development;

(2) Eligible business means a for-profit business that:

(a) Is located in this state; and

(b) Had no more than one million dollars of gross revenue in the most recently completed calendar year; and

(3) Qualifying event means any natural disaster, pandemic, or other event for which a state of emergency proclamation is issued by the Governor pursuant to section 81-829.40.