Definitions

As used in the Bioscience Development Act: A. "authority" means the New Mexico bioscience authority; B. "bioscience" means the scientific areas represented by life sciences and biotechnology that are included in the five industries recognized by the United States department of labor: (1) drugs and pharmaceuticals; (2) medical devices and equipment; (3) research testing and medical laboratories; (4) bioscience-related distribution; and (5) agriculture and chemicals related to bioscience; C. "board of directors" means the board of directors of the authority; D. "financial assistance" means tax incentives, grants, loans and other financial benefits provided for projects to a qualified entity on terms and conditions approved by the authority; E. "national laboratories" means Los Alamos national laboratory and Sandia national laboratories; and F. "research institutions" means the university of New Mexico, New Mexico state university and the New Mexico institute of mining and technology. History: Laws 2017, ch. 134, § 2.