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What's New: Government Affairs

Nevada Enacts P3 Law Containing Bonding Provisions

Friday, July 28, 2017  
 

Nevada Enacts P3 Law Containing Bonding Provisions

Nevada SB 448 authorizes counties with a population exceeding 700,000 to enter into public-private partnerships (P3) for transportation projects, including mass transit facilities.  SFAA, AIA, and NASBP worked together to obtain amendments that provide that performance and payment bonds in compliance with the Little Miller Act may be required for the design and construction portion of the project.  Bonds or other security may be required in addition to these bonds if needed.  As introduced, SB 448 contained bonding provisions that were discretionary and would have allowed P3s to be used for various kinds of State and local projects.

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

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