(a) The membership of the authority consists of
(1) the commissioner of revenue and the commissioner of commerce, community, and economic development;
(2) one other person appointed by the governor who serves as the head of a principal department of the executive branch; and
(3) two public members appointed by the governor.
(b) If a member described in (a)(1) or (a)(2) of this section is unable to attend a meeting of the authority, the member may by an instrument in writing filed with the authority, designate a deputy or assistant to act in the member's place as a member at the meeting. For all purposes of this chapter, the designee is a member of the authority at the meeting.
(c) Members of the authority described in (a)(2) and (a)(3) of this section serve two-year terms.
(d) If a vacancy occurs in the membership of the authority, the governor shall immediately appoint a member for the unexpired portion of the term.