Sec. 3. 10 MRSA §9203, sub-§3, as enacted by PL 1999, c. 513, §6, amended to read:

3. Acceptance of proposals for connections. The corporation shall request and receive proposals from public and private entities to finance, permit, construct or operate any natural gas or electric transmission lines necessary to connect electric utilities and natural gas customers in the northern part of the State with the transmission grid and natural gas transmission system of the United States, and may approve those proposals if they are in keeping with the intent of this chapter.

Sec. 4. 10 MRSA §9203, sub-§4 is enacted to read:

4.__Conduct studies.__The corporation may conduct such studies, including, but not limited to, feasibility studies, as may be necessary and convenient to the performance of its duties.

Sec. 5. PL 2001, c. 714, Pt. M is repealed.

Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.

SUMMARY

This bill accomplishes the following.

1. Public Law 1999, chapter 513 authorized the Finance Authority of Maine to issue up to $35,000,000 in bonds to finance the construction of transmission lines. This authorization was repealed, before it took effect, by Public Law 1999, chapter 531. This bill reinstates that authority and increases the bonding limit to $100,000,000.

2. It expands the stated purposes of the Northern Maine Transmission Corporation to include facilitation of the transmission of natural gas.

3. It enacts language to allow the Northern Maine Transmission Corporation to conduct studies.

4. It repeals language enacted in Public Law 2001, chapter 714 that requires that funds in the Northern Maine Transmission Corporation Fund be transferred to the General Fund.