The provision of credit assistance under this chapter with respect to a project shall not—

1. (1) relieve any recipient of the assistance of any obligation to obtain any required State or local permit or approval with respect to the project;
2. (2) 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; or
3. (3) otherwise supersede any State or local law (including any regulation) applicable to the construction or operation of the project.

(Added Pub. L. 105–178, title I, § 1503(a), June 9, 1998, 112 Stat. 249, § 186; renumbered § 606 and amended Pub. L. 109–59, title I, § 1602(b)(5), (d), Aug. 10, 2005, 119 Stat. 1247; Pub. L. 112–141, div. A, title II, § 2002, July 6, 2012, 126 Stat. 620.)

Amendments 2012—Pub. L. 112–141 amended section generally. Prior to amendment, section read as follows: “The provision of financial assistance under this chapter with respect to a project shall not—

“(1) relieve any recipient of the assistance of any obligation to obtain any required State or local permit or approval with respect to the project;

“(2) 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; or

“(3) otherwise supersede any State or local law (including any regulation) applicable to the construction or operation of the project.”

2005—Pub. L. 109–59, § 1602(d), renumbered section 186 of this title as this section.

Pub. L. 109–59, § 1602(b)(5), substituted “this chapter” for “this subchapter” in introductory provisions.

Effective Date of 2012 Amendment Amendment by Pub. L. 112–141 effective Oct. 1, 2012, see section 3(a) of Pub. L. 112–141, set out as an Effective and Termination Dates of 2012 Amendment note under section 101 of this title.