Sec. 1. 5 MRSA §13120-D, sub-§7, as enacted by PL 2001, c. 703, §6, is amended to read:

7. Employees. The authority may employ an executive director and such other technical experts, agents and employees, permanent and temporary, that it requires and may determine their qualifications, duties and compensation. Permanent employees of the authority are eligible to elect to participate in the Maine State Retirement System, the state employee health plan under section 285, any state-deferred compensation plan or any other plan or program adopted by the members to the extent the members may determine. For required legal services, the authority may employ or retain its own counsel and legal staff.

Sec. 2. 5 MRSA §13120-N, sub-§1, ¶D, as enacted by PL 2001, c. 703, §6, is amended to read:

D. The authority shall adopt rules under chapter 375 with respect to:

(1) The methodology and criteria for allocating funds to community industrial building projects;

(2) The process through which municipalities and local development corporations must apply for community industrial building funds;

(3) Rates of interest, the duration of interest payments and any other terms to which municipalities and local development corporations must be subject under this paragraph; and

(4) Other matters necessary to the proper administration of this section and section 13120-O.

Rules adopted under this paragraph are major substantive routine technical rules pursuant to chapter 375, subchapter II-A and are subject to review by the joint standing committee of the Legislature having jurisdiction over economic development matters 2-A.

Sec. 3. 5 MRSA §13120-O, sub-§3, as enacted by PL 2001, c. 703, §6, is repealed.

Sec. 4. 5 MRSA §13120-P, sub-§2, ¶A, as enacted by PL 2001, c. 703, §6, is amended to read: