; and (ii) is subject to part 229 of title 17, Code of Federal Regulations, or any successor regulations, for that fiscal year. (B) Rules for determining employer size For purposes of this paragraph: (i) Application of aggregation rule for employers All persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 of the Internal Revenue Code of 1986 shall be treated as 1 employer. (ii) Employers not in existence in preceding year In the case of an employer that was not in existence throughout the preceding fiscal year, the determination of whether the employer is a large employer shall be based on the average number of employees that the employer is reasonably expected to employ on business days in the current fiscal year. (iii) Predecessors Any reference in this paragraph to an employer shall include a reference to any predecessor of the employer. (12) National securities exchange The term national securities exchange means an exchange that is registered as a national securities exchange under section 6 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78f ). (13) Paid sick time The term paid sick time means an increment of compensated leave that can be earned by an employee for use during an absence from employment for an absence resulting from— (A) a physical or mental illness, injury, or medical condition of the employee or a related person with respect to the employee; (B) obtaining professional medical diagnosis or care, or preventive medical care, for the employee or a related person with respect to the employee; (C) caring for— (i) a related person with respect to the employee, who has any of the conditions or needs for diagnosis or care described in subparagraph (A) or (B); (ii) a child, in a situation in which the employee is required to attend— (I) a school meeting; or (II) a meeting at a place where the child is receiving care necessitated by the health condition or disability of the child