One of the Chamber’s top priorities, House Bill 309, which authorizes public-private partnerships (P3), passed out of the House of Representatives on Thursday with a vote of 83-11.
Public-private partnership (P3) legislation seeks to provide an explicit framework for these arrangements as an alternative method of procurement, construction, or financing of capital projects and services by state and local government.
The Chamber, along with several business and civic groups, have built a strong coalition of supporters for a comprehensive P3 bill that makes it clear Kentucky is open for business at all levels of government.
House Bill 309 and Senate Bill 132 are the result of the work with this coalition and legislators on both sides of the aisle to ensure this legislation offers a transparent mechanism for projects and services at the state and local level. The bills differ from P3 legislation in previous sessions in that it allows for unsolicited bids, includes new local government language, and ensures a concise and transparent process.
The House legislation passed through committee on Tuesday after testimony from Kentucky Chamber President and CEO Dave Adkisson and others.
“It brings a whole new level of transparency to these deals, which I think would bring the taxpayer confidence. So, at a time when money is tight, you all know that better than I do money is very tight at the state level and the local level, we need to have all the tools in the toolkit can get in order to do sewer systems, industrial parks, libraries, roads, parks, you name it,” Adkisson said.
House Bill 309 now heads to the Senate to be heard in committee. The Senate version of the P3 bill has not yet been heard in committee. Please contact your Senator and let them know that you support a comprehensive P3 bill.
Stay up to date with the progress of P3 legislation by continuing to check Bottom Line.