Sec. 1. 30-A MRSA §5954-A, sub-§1, as enacted by PL 1999, c. 231, §2, is amended 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 to purchase in bulk electricity, petroleum products, fuel oil and natural gas.

SUMMARY

This bill allows schools, towns and nonprofits to cooperate to purchase in bulk electricity, petroleum products, fuel oil and natural gas.