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

Amendments to Indiana P3 Law Will Wait Until Next Year

Tuesday, February 04, 2014  
Indiana SB 225 would expand the types of projects that may be conducted as a P3. Existing law authorizes state and local governmental entities to enter into P3 agreements for "public facilities, which are facilities located on real property owned or leased by a governmental unit and upon which a public service is or may be provided. SB 225 would expand the existing law to "public projects,” which are defined to include a public facility, including energy savings projects, park projects, an airport or aviation-related facility, an industrial development project or a passenger or freight railway express system.

This bill also put in to play the requirements for the P3 agreements in existing laws, which give the public owner the discretion to require performance bonds and payment security. SFAA and AIA approached the bill sponsor and asked that the bill be amended to require the construction portion of P3s to be bonded just like any other public works project in Indiana. Several SFAA members, the Surety Association of Indiana and the Indiana Insurance Institute also actively engaged on this issue. AIA state counsel asked that SFAA members locally contact the bill sponsor, and SFAA asked NASBP and ASA to do the same. We know that a number of contacts were made from sureties, subcontractors and bond producers. The bill sponsor heard us out on the bonding issues, but because this is a short session this year and we are pushing against crossover dates, the bill sponsor agreed to address the bonding issues in 2015.


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