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.
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