Authorizing and providing for the designation of biotechnology and +health sciences industry tax free zones by the commissioner of trade and +economic development (DTED); defining certain terms; specifying certain +applicant development plan development and content requirements; limiting the +size and duration of the zones and authorizing subzones; specifying certain +designation application content requirements, authorizing application by local +government units or joint powers boards; providing for commissioner designation +of the zones in consultation with the commissioner of revenue and the +director of the office of strategic and long range planning, specifying certain +success indicators for consideration by the commissioner for designation +purposes and providing a designation schedule; providing individual income and +corporate franchise tax exemptions for qualified businesses and investments in +qualified businesses operating in the zones, requiring and providing for +repayment under certain termination conditions; specifying certain reporting +requirements of applicants receiving designation on progress in meeting the zone +performance goals under the development plan, authorizing certain commissioner +actions for failure to meet the goals; exempting improvements to real or personal+ property in the zones from the property tax and providing sales and motor +vehicle sales tax exemptions for certain purchases (ra)