H.P. 497 - L.D. 704
Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, the electricity industry will be deregulated in March of 2000; and
Whereas, an uninterrupted and reliable source of electricity is essential to the proper functioning of Maine's governmental units and the economy as a whole; and
Whereas, preparations for deregulation require sufficient time to be implemented before the date of deregulation; and
Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 22 MRSA §2055, sub-§16, as enacted by PL 1997, c. 385, §4, is amended to read:
16. Bulk purchases. To purchase, lease or otherwise acquire, finance, sell and transfer for, to or on behalf of itself and any eligible entities organized pursuant to the United States Internal Revenue Code, Section 501 or in partnership with any of its eligible entities organized pursuant to the United States Internal Revenue Code, Section 501 commodities necessary for the daily operation of the facilities of the eligible entities and for their employees, including, but not limited to, electricity, petroleum products, fuel oil and natural gas. For purposes authorized in this subsection, the University of Maine System and its colleges and universities are eligible participating institutions under the definition of eligible participant for the authority; and
Sec. 2. 30-A MRSA §5954-A is enacted to read:
1. Authority. In addition to its other enumerated powers, but subject to the limitations imposed under subsection 2, the bank, on behalf of or in partnership with one or more governmental units or nonprofit corporations organized under the Internal Revenue Code, Section 501, may aggregate governmental units and nonprofit corporations for the purpose of obtaining electricity necessary for the daily operation of the governmental units or nonprofit corporations.
2. Conditions; limitations. In exercising its authority under subsection 1, the bank:
A. Is subject to all applicable provisions of law, including the provisions of Title 35-A relating to aggregators of customers of electricity;
B. Must provide to any entity to whom it offers to provide services under subsection 1 notice that the entity is under no obligation to accept any of the services and that no other service provided by the bank is conditional upon or affected by the entity's acceptance or rejection of the offer;
C. May not extend credit or vary the terms of credit based on an entity's acceptance or rejection of an offer by the bank to provide services pursuant to subsection 1; and
D. May not encourage or otherwise seek to persuade any entity to accept any services offered by the bank pursuant to subsection 1, if the entity has an application with the bank for a loan, until after the bank has taken final action on approving or rejecting the application.
Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.
Effective May 18, 1999.
| Revisor of Statutes Homepage | Subject Index | Search | Laws of Maine | Maine Legislature |
