FRANKFORT, Ky. (March 27, 2014) — The Senate Transportation Committee approved a measure Wednesday that would provide oversight and regulations to public-private partnerships, so-called P3s, in the commonwealth.
House Bill 407, sponsored by Rep. Leslie Combs, D-Pikeville, and House Majority Caucus Chair Sannie Overly, D-Paris, would allow state and local governments to partner with private companies to complete infrastructure, transportation and other projects. Supporters of the measure say it would allow government agencies to consider projects that wouldn’t be financially feasible without such a partnership.
A change made in the committee would limit public-private partnerships highway projects to $100 million.
“I think that we will see a lot of wonderful projects over our tenure here that will come out of this new coalition,” said Senate Majority Whip Brandon Smith, R-Hazard.
The bill now goes to the full Senate for further action.