One of the Chamber’s top priorities, House Bill 309, which authorizes public-private partnerships (P3), was concurred and received its final passage in the House Friday before heading to the Governor’s desk for signature.
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.
House Bill 309, sponsored by Rep. Leslie Combs, is the result of work with a broad base of coalition members 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 previous sessions in that it allows for unsolicited bids, includes new local government language and ensures a concise and transparent process.
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.
“This is a bill that will move the Commonwealth forward on important investments, complete necessary infrastructure projects and efficiently serve the public,” Adkisson said. “Rep. Combs and Sen. Wise have worked to ensure this legislation offers the greatest level of taxpayer protections and transparency by requiring decisions on P3 projects to be made in the daylight with legislative oversight. House Bill 309 creates a clear process in statute for both government and businesses to follow which levels the playing field for those pursing a P3.”
The P3 bill was passed in 2014, but vetoed by Governor Beshear. It was introduced last year and passed the House but never received a hearing in Senate committee.
House Bill 309 now heads to the Governor’s desk for signature.