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What's New: Public-Private Partnerships (P3s)

SFAA Prepares for Public-Private Partnership Legislation for 2014

Thursday, January 16, 2014  

SFAA is tracking and working on a number of bills that would authorize a public-private partnership (P3). There is P3 carryover legislation from 2013 pending in the District of Columbia, Georgia, Michigan, New York, Pennsylvania and South Carolina. In addition to the bills already pending in the states, we expect that P3 bills from 2013 in Arizona, Arkansas, New Jersey and New Mexico, which did not carryover, will be reintroduced again in 2014. Arkansas and New Mexico have particularly short sessions this year and will work on their fiscal 2015 budgets such that there may not be enough time to consider the P3 legislation. Kentucky also might consider P3 legislation this year. Legislation recently was introduced in Florida to permit state universities to use P3s, and in Indiana to expand existing authority for P3s. Virginia again has a technical corrections bill that might be used to correct the bonding provision in the existing law.

Florida, Georgia and New Mexico had interim studies of P3s. Florida’s study is on-going and SFAA expects to make a presentation to the task force in late January on the value of bonding P3s. The Georgia study commission recommended that legislation introduce last year should be enacted in 2014. SFAA and AIA have worked to have the bill amended so that the construction portion of the P3 must be bonded. Legislation introduced last year in New Mexico would have permitted alternatives to bonding and permitted the contracting entity to determine the amount of security required. SFAA and AIA worked with the bill sponsor and the draft P3 bill from the study committee would require bonding of the construction in a P3.

SFAA has posted a listing of P3 legislation on the Government Relations Page of the SFAA website at www.surety.org.


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