Sec. 51. 10 MRSA §1048, 3rd ¶, as enacted by PL 1993, c. 741, §2, is amended to read:

If, in connection with any outstanding revenue obligation securities issued under previous chapter 104, any predecessor to the authority financed or guaranteed more than 90% of the total value of a project, the authority, in connection with issuing its revenue refunding securities, may continue to finance or guarantee the corresponding percentage of the total value of the project financed or guaranteed by its predecessor, notwithstanding section 1026-D 1026-A, subsection 2 1, paragraph B A, subparagraph (1).

Sec. 52. 10 MRSA §1063, sub-§2, ¶E, as repealed and replaced by PL 1989, c. 878, Pt. A, §28, is repealed and the following enacted in its place:

E.__For all revenue obligation securities in excess of $1,000,000 and in other instances when the authority determines it is appropriate, the Department of Environmental Protection has provided a written assessment to the authority of the environmental conditions known by the department to exist at a project location so that the authority fully considers environmental risks when making its decisions.__Environmental conditions posing risks that must be considered include, but are not limited to, licensing obligations, existing or historic regulatory noncompliance and site clean-up responsibilities.

Sec. 53. Effective date. This Act takes effect January 1, 2005.