2.__ Authorization.__For the reasons set out in subsection 1, a unit of local government, or 2 or more cooperating units of local government, may develop a program for improving a district within its collective boundaries:

A.__To provide impetus for targeted business development;

B.__To increase employment; and

C.__To provide the facilities outlined in the development program adopted by the participating units of local government.

3.__Declaration of public purpose.__The Legislature declares that the actions required to assist the implementation of these development programs are a public purpose and that the execution and financing of these programs are a public purpose.

§5250-I.__Definitions

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

1.__Affiliated business.__"Affiliated business" means a member of a group of 2 or more businesses in which more than 50% of the voting stock of each member corporation or more than 50% of the ownership interest in a business other than a corporation is directly or indirectly owned by a common owner or owners, either corporate or noncorporate, or by one or more of the member businesses.

2.__Applicant.__"Applicant" means any unit of local government and any group of cooperating units of local government in the State that apply for designation as a Pine Tree Development Zone under section 5250-J.

3.__Average employment during base period.__"Average employment during base period" for a business means the total number of qualified employees of that business on each of 6 consecutive measurement days in each of the 3 calendar years in the base period as chosen by the business divided by 18.

4.__Base level of employment. "Base level of employment" means the greater of either the total employment in the State of a business and its affiliated businesses as of the December 31st immediately preceding its certification as a qualified Pine Tree Development Zone business or its average employment during the base period.