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.