With respect to an eligible project, the provision of a loan under this part shall not—

1. (a) Relieve the beneficiary of the loan or any obligation to obtain any required State or local permit or approval with respect to the project.
2. (b) Limit the right of any unit of State or local government to approve or regulate any rate of return on private equity invested in the project.
3. (c) Supersede any State or local law (including any regulation) applicable to the construction or operation of the project.