Sec. 1. 5 MRSA §12004-F, sub-§18 is enacted to read:

18.__Maine Rural Expenses 5 MRSA

Development Authority §13120-A

Sec. 2. 5 MRSA §13058, sub-§6, ¶¶E and F, as enacted by PL 1987, c. 534, Pt. A, §§17 and 19, are amended to read:

E. A foreign trade zone program; and

F. The Business Assistance Referral and Facilitation Program, pursuant to section 13063; and.

Sec. 3. 5 MRSA §13058, sub-§6, ¶G, as enacted by PL 1987, c. 534, Pt. A, §§17 and 19, is repealed.

Sec. 4. 5 MRSA §13072, sub-§6, as enacted by PL 1987, c. 534, Pt. A, §§17 and 19, is repealed.

Sec. 5. 5 MRSA c. 383, sub-c. III, art. 2, as amended, is repealed.

Sec. 6. 5 MRSA c. 383, sub-c. IX is enacted to read:

SUBCHAPTER IX

MAINE RURAL DEVELOPMENT AUTHORITY

§13120-A.__Authority established; purpose

The Maine Rural Development Authority, as established by section 12004-F, subsection 18 and referred to in this subchapter as the "authority," is a body both corporate and politic and a public instrumentality of the State established for the purpose of providing loans to communities for the development of commercial facilities on a speculative basis and for serving as lead investor in the acquisition, development, redevelopment and sale of commercial facilities in areas where economic needs are not supported by private investment.

The purposes of this subchapter are public and the authority is performing a governmental function in carrying out this subchapter.

§13120-B.__Definitions

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.