As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
1. Authority. "Authority" means the Finance Authority of Maine.
2. Chief executive officer. "Chief executive officer" means the Chief Executive Officer of the Finance Authority of Maine.
3. Eligible employer. "Eligible employer" means a business in the State that employs engineers and that demonstrates a need to fill an eligible employment position.
4. Eligible employment position. "Eligible employment position" means a full-time position of employment with an employer located in this State, a requirement of which is a bachelor's degree in an engineering discipline.
5. Eligible individual. "Eligible individual" means a person who:
A. Holds a bachelor's degree from a college of engineering within the University of Maine System; or
B. Received a high school diploma, or its equivalent, in this State and holds a bachelor's degree from a college of engineering in a state other than this State.
6. Program. "Program" means the Maine Engineers Recruitment and Retention Program established in section 12522.