Sec. 1. 5 MRSA §13070-J, sub-§1, ¶D, as corrected by RR 2001, c. 2, Pt. A, §11, is amended to read:

D. "Economic development incentive" means:

(1) Assistance from Maine Quality Centers under Title 20-A, chapter 431-A;

(2) The Governor's Training Initiative Program under Title 26, chapter 25, subchapter 4;

(3) Municipal tax increment financing under Title 30-A, chapter 206;

(4) The jobs and investment tax credit under Title 36, section 5215;

(5) The research expense tax credit under Title 36, section 5219-K;

(6) Reimbursement for taxes paid on certain business property under Title 36, chapter 915.__This subparagraph is repealed April 1, 2010;

(7) Employment tax increment financing under Title 36, chapter 917;

(8) The shipbuilding facility credit under Title 36, chapter 919; or

(9) The credit for seed capital investment under Title 36, section 5216-B.

Sec. 2. 36 MRSA §662 is enacted to read:

§662.__Certain personal property used in business

1.__Definitions.__As used in this section, unless the context otherwise indicates, the following terms have the following meanings.

A.__"Business property" means tangible personal property that:

(1)__Is used or held for use exclusively for a business purpose by the person in possession of it or, in the case of construction in progress or inventory parts, is