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

Maryland P3 Technical Correction Legislation Moving with Amendments

Tuesday, March 24, 2015  

Maryland SB 453/HB 936 is legislation that SFAA and AIA sought to correct a technical problem with the bonding language in the P3 law that Maryland enacted in 2013. SB 453 has passed the Senate and HB 936 has passed the House with amendments that SFAA and AIA negotiated with the Maryland Department of Transportation (DOT). Out technical corrections bill as passed will be headed to the Governor’s desk soon. The existing law requires that the amount of the payment bond must be based on the value of the construction elements of the P3 and not on the total value of the P3, but does not similarly limit the amount of the performance bond. SFAA and AIA have worked to fix this under SB 453/HB 936 and have reached an agreement with the DOT on revising the law.

More information for Members at P3s / Public-Private-Partnerships (Members)

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