The following definitions apply to this subchapter:

(1) "Secondary value-adding industry" means an industrial process that engages in the mechanical or chemical transformation of materials or substances into new products in the manner defined as manufacturing in the North American Industry Classification System Manual prepared by the United States Office of Management and Budget, and that engages in the:

(a) processing of raw materials, such as minerals, ore, oil, gas, coal, agricultural products, and forestry products; or

(b) processing of semi-finished products that are used by the industry as a raw material in further manufacturing.

(2) "Targeted economic development district (TEDD)" means a district created pursuant to 7-15-4279, MCA, that contains a provision for tax increment financing as provided for in 7-15-4282, MCA.

(3) "Tax increment financing district (TIFD)" means the area within the external boundaries of an urban renewal district (URD) or a targeted economic development district (TEDD) that:

(a) has been legally created pursuant to the provisions of 7-15-4282, MCA; and

(b) contains a provision for the use of tax increment financing.

(4) "Urban renewal district (URD)" means a district created pursuant to 7-15-4202 through 7-15-4218 and 7-15-4280 through 7-15-4284, MCA, that contains a provision for tax increment financing as provided for in 7-15-4282, MCA.

(5) "Value-added" means an increase in the worth of the raw or semi-finished product that results from a mechanical or chemical transformation and may not be attributable to a mere increase in existing production.