Friday, March 25, 2016

Lawmakers finish work on public-private partnerships bill

(AP) — A bill authorizing the use of public-private partnerships for big-ticket transportation work and other projects has cleared the Kentucky General Assembly and is headed to Gov. Matt Bevin.

The measure won final passage on an 86-8 House vote Friday.

It would sanction ventures partnering state and local governments with private sources.
Supporters say the partnerships would attract private financial backing for projects that state and local governments can't afford on their own.

As part of the arrangements, a private entity could construct, finance or even operate a facility under agreement with the government partner.

The bill's lead sponsor, Democratic Rep. Leslie Combs of Pikeville, has promoted so-called "P3" legislation for four years, with support from the Kentucky Chamber of Commerce and other business groups.

The legislation is House Bill 309.