Section 54 of chapter 40 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting after the first paragraph the following paragraph:-

Prior to the issuance of a permit or license for: (1) the demolition, renovation, rehabilitation or other alteration of a building or other structure; and (2) the removal of debris from the resulting from such demolition, renovation, rehabilitation or alteration; a person performing such demolition, renovation, rehabilitation, alteration or removal shall furnish the municipality granting the permit a performance bond in such amounts as the city or town deems necessary in order to insure the faithful performance of such work and observance of, and compliance with, the environmental laws and regulations of the commonwealth whereby a requisite financial responsibility is imposed on such applicant or recipient of the demolition or other construction permit in order to insure recourse for the financial harm sustained by reason of any such failure to comply with the environmental protection laws of the commonwealth. For the purposes of this section the term "performance bond" means an approved form of security that guarantees the applicant's complete compliance with provisions of this paragraph and the term “person” shall mean any association, corporation, limited liability company, fiduciary, individual, joint venture, partnership, sole proprietorship or any other legal entity.