(a)      (1)      An authority may exercise its powers as granted by this article, irrespective of the fact that such activities may displace or limit economic competition.

            (2)      The powers granted to an authority pursuant to paragraph (1) of this subsection may not be construed:

                  (i)      To grant to the authority powers in any substantive area not otherwise granted to the authority by other public general or public local law;

                  (ii)      To restrict the authority from exercising any power granted to the authority by other public general or public local law or otherwise;

                  (iii)      To authorize the authority or its officers to engage in any activity which is beyond their power under other public general law, public local law, or otherwise; or

                  (iv)      To preempt or supersede the regulatory authority of any State department or agency under any public general law.

      (b)      Provisions of State law with respect to the financing, acquisition, operation, or disposition of property by other public bodies may not be applicable to an authority unless the legislature shall specifically so state.