Sec. 8. (a) As used in this section, “recapture provision” means language that requires the recipient of an incentive to repay some part of the incentive.

     (b) The corporation may waive or modify a recapture provision of this article or an agreement made with a person to whom the corporation has awarded an incentive if the corporation determines that the recipient of an incentive awarded by the corporation has failed to meet a condition for receiving the incentive because of circumstances beyond the recipient’s control, including:

(1) natural disaster;

(2) unforeseen industry trends;

(3) lack of available labor force;

(4) loss of a major supplier or market; or

(5) another circumstance beyond the recipient’s control, as determined by the corporation.

As added by P.L.110-2010, SEC.13.