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What's New: Government Affairs

New Jersey Governor Signs P3 Bill for County Hospitals with Bonding Requirements

Tuesday, September 27, 2016  
  New Jersey Governor Signs P3 Bill for County Hospitals with Bonding Requirements 

The New Jersey Governor signed SB 2361, which permits counties that own an 800-bed hospital to form a local hospital authority that may enter into a public-private partnership for the construction, reconstruction, repair, alteration, improvement, extension, management, or operation of a building, structure, or facility for the hospital. When there is no public funding, the public owner must require the private partner to post, or cause to be posted, a bond that guarantees the prompt payment of moneys due to the contractor, his or her subcontractors and to all persons furnishing labor or materials to the contractor or his or her subcontractors for the public improvement.

Members should visit Government Relations / General Info (Members) for more information.



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