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. 30-A MRSA §5954, sub-§1, ¶O, as amended by PL 1991, c. 605, §8, is further amended to read:

O. Do all acts and things necessary, convenient or desirable to carry out the powers expressly granted or necessarily implied in this chapter; and

Sec. 2. 30-A MRSA §5954, sub-§1, ¶P, as enacted by PL 1991, c. 605, §9, is amended to read:

P. In accordance with the limitations and restrictions of this chapter, cause any of its powers, duties, programs or operations to be carried out by one or more nonprofit corporations. Nonprofit corporations acting at the direction of the bank must be organized and operated under the Maine Nonprofit Corporation Act.; and

Sec. 3. 30-A MRSA §5954, sub-§1, ¶Q is enacted to read:

Q.__On behalf of or in partnership with itself and any of its eligible governmental units and nonprofit corporations organized under the Internal Revenue Code, Section 501, purchase, lease, finance or otherwise acquire, sell and transfer commodities such as electricity and fuel products necessary for the daily operation of the governmental unit or nonprofit corporation.