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What's New: Advocacy

Legislation Introduced in Oklahoma for Transportation and Public Facility P3 Projects

Wednesday, January 27, 2016  

Oklahoma HB 3123/SB 1316 would authorize governmental entities in Oklahoma to enter into public-private partnerships (P3s) for transportation and public facility projects. The comprehensive project between the public owner and the private partner must include a requirement for the delivery of letters of credit or other security for the development or operation of the project, in the forms and amounts satisfactory to the public owner, and delivery of performance and payment bonds required for all construction activities. 

SFAA worked with the Association for Investment in American Infrastructure (AIAI) on a draft bill and sent them language for the bonding requirements. AIAI was involved with its members locally in helping draft the legislation based on AIAI’s best practices, which include bonding. The bill has been introduced and the bonding provision on page 21 of the attached bill is similar to the language that SFAA sent to AIAI for inclusion in the bill.

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