MD
Maryland House Bill HB956

Maryland 2024 Regular Session

Maryland House Bill HB956 Compare Versions

Only one version of the bill is available at this time.
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33 EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
44 [Brackets] indicate matter deleted from existing law.
55 *hb0956*
66
77 HOUSE BILL 956
88 P2, P1 4lr3082
99 HB 1201/23 – ENT & APP
1010 By: Delegate Solomon
1111 Introduced and read first time: February 2, 2024
1212 Assigned to: Environment and Transportation and Appropriations
1313
1414 A BILL ENTITLED
1515
1616 AN ACT concerning 1
1717
1818 Public–Private Partnership (P3) Oversight and Accountability Act 2
1919
2020 FOR the purpose of establishing the Public–Private Partnership Oversight Review Board; 3
2121 requiring the Public–Private Partnership Oversight Review Board to study and 4
2222 make recommendations regarding certain matters; authorizing the Public–Private 5
2323 Partnership Oversight Review Board to request technical assistance from certain 6
2424 persons, when appropriate; requiring a reporting agency to submit certain 7
2525 presolicitation reports to the Public–Private Partnership Oversight Review Board; 8
2626 requiring a reporting agency to submit a separate presolicitation report for each 9
2727 phase of a project that will develop in phases; providing that the total value of a 10
2828 public–private partnership developed in phases is equal to the sum of the total value 11
2929 of each phase of the project; requiring a certain reporting agency to include in 12
3030 presolicitation reports for certain public–private partnerships presolicitation reports 13
3131 of certain contracts; requiring the Public–Private Partnership Oversight Review 14
3232 Board, within a certain number of days after receiving a presolicitation report, to 15
3333 report and make certain recommendations to the Board of Public Works and certain 16
3434 budget committees; requiring that before the Board of Public Works may make a 17
3535 certain designation certain budget committees have a certain number of days to 18
3636 review and comment on a certain report; requiring certain proposed public–private 19
3737 partnership agreements to be submitted to the Legislative Policy Committee and the 20
3838 Public–Private Partnership Oversight Review Board; prohibiting the Board of Public 21
3939 Works from approving a proposed agreement until the Legislative Policy Committee 22
4040 has reviewed and commented on the public–private partnership if a certain review 23
4141 and comment period is during a certain time and until certain independent 24
4242 assessments of the impact on the State’s credit rating and certain risk analyses are 25
4343 completed under certain circumstances; requiring a certain risk analysis to include 26
4444 certain information; requiring the proposed agreement to include certain financial 27
4545 information; requiring approval of the General Assembly for certain public–private 28
4646 partnership agreements; requiring a reporting agency to notify the Legislative Policy 29
4747 Committee on receiving a certain unsolicited proposal; requiring a reporting agency 30
4848 to consult with the Public–Private Partnership Oversight Review Board in reviewing 31 2 HOUSE BILL 956
4949
5050
5151 a certain unsolicited proposal; requiring certain terms in a public–private 1
5252 partnership agreement; requiring, under certain circumstances, the terms of a 2
5353 public–private partnership to contain certain provisions; extending a certain 3
5454 prohibition on noncompete clauses in certain public–private partnership agreements 4
5555 to all transit or road maintenance projects regardless of funding source; and 5
5656 generally relating to public–private partnerships. 6
5757
5858 BY repealing and reenacting, without amendments, 7
5959 Article – State Finance and Procurement 8
6060 Section 10A–101(a) 9
6161 Annotated Code of Maryland 10
6262 (2021 Replacement Volume and 2023 Supplement) 11
6363
6464 BY repealing and reenacting, with amendments, 12
6565 Article – State Finance and Procurement 13
6666 Section 10A–101(b), 10A–201(a), 10A–203(a), 10A–301, and 10A–401(a) and (c) 14
6767 Annotated Code of Maryland 15
6868 (2021 Replacement Volume and 2023 Supplement) 16
6969
7070 BY adding to 17
7171 Article – State Finance and Procurement 18
7272 Section 10A–101(i), 10A–106, and 10A–203(c) 19
7373 Annotated Code of Maryland 20
7474 (2021 Replacement Volume and 2023 Supplement) 21
7575
7676 SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 22
7777 That the Laws of Maryland read as follows: 23
7878
7979 Article – State Finance and Procurement 24
8080
8181 10A–101. 25
8282
8383 (a) In this title the following words have the meanings indicated. 26
8484
8585 (b) “Budget committees” means the Senate Budget and Taxation Committee, the 27
8686 House [Committee on Ways and Means ] ENVIRONMENT AND TRANSPORTATION 28
8787 COMMITTEE, and the House Appropriations Committee. 29
8888
8989 (I) “TRANSPORTATION FACILI TIES PROJECT” HAS THE MEANING STAT ED 30
9090 IN § 4–101 OF THE TRANSPORTATION ARTICLE. 31
9191
9292 10A–106. 32
9393
9494 (A) IN THIS SECTION, “BOARD” MEANS THE PUBLIC–PRIVATE 33
9595 PARTNERSHIP OVERSIGHT REVIEW BOARD. 34
9696 HOUSE BILL 956 3
9797
9898
9999 (B) THERE IS A PUBLIC–PRIVATE PARTNERSHIP OVERSIGHT REVIEW 1
100100 BOARD. 2
101101
102102 (C) THE BOARD CONSISTS OF THE FOLLOWING MEMBERS: 3
103103
104104 (1) TWO MEMBERS OF THE SENATE OF MARYLAND, APPOINTED BY 4
105105 THE PRESIDENT OF THE SENATE; 5
106106
107107 (2) TWO MEMBERS OF THE HOUSE OF DELEGATES, APPOINTED BY 6
108108 THE SPEAKER OF THE HOUSE; AND 7
109109
110110 (3) THREE MEMBERS , APPOINTED BY THE GOVERNOR, WHO SHALL 8
111111 HAVE EXPERI ENCE IN THE FIELDS O F TRANSPORTATION LAW , PUBLIC POLICY , 9
112112 FINANCE, OR MANAGEMENT CONSUL TING. 10
113113
114114 (D) THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE 11
115115 SHALL JOINTLY DESIGN ATE THE CHAIR OF THE BOARD. 12
116116
117117 (E) THE DEPARTMENT OF LEGISLATIVE SERVICES SHALL PROVIDE STAFF 13
118118 FOR THE BOARD. 14
119119
120120 (F) THE BOARD SHALL: 15
121121
122122 (1) REVIEW PUBLIC –PRIVATE PARTNERSHIP PRESOLICITATION 16
123123 REPORTS; 17
124124
125125 (2) MAKE RECOMMENDATIONS REGARDING THE DESIGN ATION OF A 18
126126 PUBLIC INFRASTRUCTUR E ASSET AS A PUBLIC–PRIVATE PARTNERSHIP ; 19
127127
128128 (3) CONSULT WITH A REPORTING AGENCY I N REVIEWING ANY 20
129129 UNSOLICITED PROPOSAL S FOR A PUBLIC–PRIVATE PARTNERSHIP ; 21
130130
131131 (4) REVIEW BEST PRACTICE S REGARDING PUBLIC –PRIVATE 22
132132 PARTNERSHIPS FROM OT HER STATES AND INTER NATIONALLY; AND 23
133133
134134 (5) MONITOR THE IMPLEMEN TATION AND OPERATION OF EXISTING 24
135135 PUBLIC–PRIVATE PARTNERSHIPS . 25
136136
137137 (G) THE BOARD MAY REQUEST TEC HNICAL ASSISTANCE FR OM THE STATE 26
138138 TREASURER, THE COMPTROLLER , OR THE APPROPRIATE A DMINISTRATIVE 27
139139 AGENCY, WHEN APPROPRIATE . 28
140140
141141 10A–201. 29
142142
143143 (a) (1) (i) Except as provided in subparagraph (ii) of this paragraph AND 30 4 HOUSE BILL 956
144144
145145
146146 SUBJECT TO SUBPARAGR APH (III) OF THIS PARAGRAPH AN D PARAGRAPH (3) OF 1
147147 THIS SUBSECTION , a reporting agency may not issue a public notice of solicitation for a 2
148148 public–private partnership until a presolicitation report concerning the proposed 3
149149 public–private partnership is submitted to the Comptroller, the State Treasurer, the 4
150150 budget committees, and the Department of Legislative Services, in accordance with § 5
151151 2–1257 of the State Government Article. 6
152152
153153 (ii) 1. A reporting agency may not issue a public notice of 7
154154 solicitation for a public–private partnership for a transportation facilities project[, as 8
155155 defined in § 4–101(h) of the Transportation Article,] until a presolicitation report 9
156156 concerning the proposed public–private partnership is submitted to the budget committees 10
157157 and the Department of Legislative Services, in accordance with § 2–1257 of the State 11
158158 Government Article. 12
159159
160160 2. FOR A TRANSPORTATION FACILITIES PROJECT WI TH 13
161161 A TOTAL VALUE THAT E XCEEDS $500,000,000, THE REPORTING AGENCY SHALL 14
162162 SUBMIT, IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT ARTICLE, 15
163163 THE PRESOLICITATION REPORT TO THE PUBLIC–PRIVATE PARTNERSHIP 16
164164 OVERSIGHT REVIEW BOARD. 17
165165
166166 (III) 1. IF A REPORTING AGENCY HAS DETERMINED THAT A 18
167167 PROJECT THAT IS SUBJ ECT TO A PUBLIC –PRIVATE PARTNERSHIP WILL BE 19
168168 DEVELOPED IN SEPARAT E PHASES, THE REPORTING AGENCY SHALL SUBMIT A 20
169169 SEPARATE PRESOLICITA TION REPORT IN ACCOR DANCE WITH THIS SECT ION FOR 21
170170 EACH PHASE O F THE PROJECT. 22
171171
172172 2. FOR THE PURPOSES OF D ETERMINING THE TOTAL 23
173173 VALUE OF A PUBLIC –PRIVATE PARTNERSHIP FOR A PROJECT THAT W ILL BE 24
174174 DEVELOPED IN PHASES , THE TOTAL VALUE OF T HE PUBLIC–PRIVATE PARTNERSHIP 25
175175 SHALL BE EQUAL TO TH E SUM OF THE TOTAL V ALUE OF EACH PH ASE OF THE 26
176176 PROJECT. 27
177177
178178 (2) (i) [The] EXCEPT AS PROVIDED IN PARAGRAPH (4) OF THIS 28
179179 SUBSECTION, THE budget committees may not have more than 45 days to review and 29
180180 comment on the presolicitation report submitted in accordance with paragraph (1) of this 30
181181 subsection. 31
182182
183183 (ii) 1. If the total value of a proposed public–private partnership 32
184184 reported in the presolicitation report under paragraph (b)(1) of this subsection exceeds 33
185185 $500,000,000, the budget committees [may request] SHALL, AFTER MAKING A REQUE ST 34
186186 SUBJECT TO SUBSUBPAR AGRAPH 2 OF THIS SUBPARAGRAPH , BE GRANTED an 35
187187 additional 15 days to review and comment on the presolicitation report. 36
188188
189189 2. The request for additional time under this subparagraph 37
190190 shall: 38 HOUSE BILL 956 5
191191
192192
193193
194194 A. be made in writing to the Governor, the Department of 1
195195 Budget and Management, and the reporting agency; and 2
196196
197197 B. include the reason for the request and any preliminary 3
198198 issues the budget committees have. 4
199199
200200 (3) FOR A PUBLIC –PRIVATE PARTNERSHIP WITH A TOTAL VALUE 5
201201 THAT EXCEEDS $500,000,000, THE REPORTING AGENCY SHALL INCLUDE IN THE 6
202202 PRESOLICITATION REPO RT REQUIRED UNDER PA RAGRAPH (1) OF THIS SUBSECTION 7
203203 A PRESOLICITATION RE PORT OF EACH CONTRAC T UNDER THE PUBLIC–PRIVATE 8
204204 PARTNERSHIP . 9
205205
206206 (4) (I) WITHIN 60 DAYS AFTER RECEIVING A PRESOLIC ITATION 10
207207 REPORT UNDER PARAGRA PH (1) OF THIS SUBSECTION , THE PUBLIC–PRIVATE 11
208208 PARTNERSHIP OVERSIGHT REVIEW BOARD SHALL REPORT AN D MAKE 12
209209 RECOMMENDATIONS ON T HE PRESOLICITATION R EPORT TO THE BOARD OF PUBLIC 13
210210 WORKS AND, IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT 14
211211 ARTICLE, THE BUDGET COMMITTEE S OF THE GENERAL ASSEMBLY. 15
212212
213213 (II) THE BUDGET COMMITTEES , IN CONSULTATION WITH THE 16
214214 APPROPRIATE POLICY C OMMITTEES, SHALL HAVE 60 DAYS TO REVIEW AND 17
215215 COMMENT ON THE REPOR T AND RECOMMENDATION S OF THE PUBLIC–PRIVATE 18
216216 PARTNERSHIP OVERSIGHT REVIEW BOARD BEFORE THE BOARD OF PUBLIC 19
217217 WORKS MAY DESIGNATE T HE PUBLIC INFRASTRUC TURE ASSET AS A 20
218218 PUBLIC–PRIVATE PARTNERSHIP UNDER SUBSECTION (C) OF THIS SECTION. 21
219219
220220 10A–203. 22
221221
222222 (a) (1) Except as provided in [paragraph (2)] PARAGRAPHS (2) AND (5) of 23
223223 this subsection, the Board of Public Works may not approve a public–private partnership 24
224224 agreement until: 25
225225
226226 (i) a copy of the proposed agreement is submitted simultaneously 26
227227 to: 27
228228
229229 1. the Comptroller, the State Treasurer, the budget 28
230230 committees, and the Department of Legislative Services, in accordance with § 2–1257 of 29
231231 the State Government Article; AND 30
232232
233233 2. FOR A PUBLIC–PRIVATE PARTNERSHIP WITH A TOTAL 31
234234 VALUE THAT EXCEEDS $500,000,000, THE LEGISLATIVE POLICY COMMITTEE, IN 32
235235 ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT ARTICLE, AND THE 33
236236 PUBLIC–PRIVATE PARTNERSHIP OVERSIGHT REVIEW BOARD; 34
237237 6 HOUSE BILL 956
238238
239239
240240 (ii) the State Treasurer, in coordination with the Comptroller, 1
241241 analyzes the impact on the State’s capital debt affordability limits of the proposed 2
242242 public–private partnership agreement; 3
243243
244244 (iii) the State Treasurer submits the analysis to the budget 4
245245 committees and the Department of Legislative Services, in accordance with § 2–1257 of the 5
246246 State Government Article; [and] 6
247247
248248 (iv) the budget committees have reviewed and commented on the 7
249249 agreement in accordance with paragraph (3) of this subsection; AND 8
250250
251251 (V) FOR A PUBLIC –PRIVATE PARTNERSHIP WITH A TOTAL 9
252252 VALUE THAT EXCEEDS $500,000,000: 10
253253
254254 1. IF THE REVIEW AND CO MMENT PERIOD FOR THE 11
255255 BUDGET COMMITTEES IS DURING A PERIOD WHEN THE GENERAL ASSEMBLY IS NOT 12
256256 IN SESSION, THE LEGISLATIVE POLICY COMMITTEE HAS REVIEWE D AND 13
257257 COMMENTED ON THE PUB LIC–PRIVATE PARTNERSHIP ; 14
258258
259259 2. INDEPENDENT ASSESSME NTS OF THE IMPACT ON THE 15
260260 STATE’S CREDIT RATING ARE COMPLETED FOR EACH C ONTRACT UNDER THE 16
261261 PUBLIC–PRIVATE PARTNERSHIP BY A FINANCIAL ADVISO R CHOSEN BY THE STATE 17
262262 TREASURER; AND 18
263263
264264 3. IN ACCORDANCE WITH P ARAGRAPH (4) OF THIS 19
265265 SUBSECTION, A RISK ANALYSIS IS C OMPLETED FOR EACH CO NTRACT UNDER THE 20
266266 PUBLIC–PRIVATE PARTNERSHIP BY A FINANCIAL ADVIS OR CHOSEN BY THE STATE 21
267267 TREASURER. 22
268268
269269 (2) The Board of Public Works may not approve a public –private 23
270270 partnership agreement for a transportation facilities project[, as defined in § 4–101(h) of 24
271271 the Transportation Article,] until the proposed agreement is submitted to the budget 25
272272 committees and the Department of Legislative Services, in accordance with § 2–1257 of the 26
273273 State Government Article. 27
274274
275275 (3) (i) The period for review, analysis, and comment under paragraphs 28
276276 (1) and (2) of this subsection may not exceed a total of 30 days from the date the proposed 29
277277 public–private partnership agreement is submitted simultaneously to the State Treasurer, 30
278278 the Comptroller, the budget committees, and the Department of Legislative Services. 31
279279
280280 (ii) The budget committees may facilitate a faster review and 32
281281 comment period by sending a letter to the Board of Public Works supporting a proposed 33
282282 public–private partnership agreement in advance of the expiration of the 30–day review 34
283283 period. 35
284284 HOUSE BILL 956 7
285285
286286
287287 (4) THE RISK ANALYSIS REQUIRED UNDER PARAG RAPH (1) OF THIS 1
288288 SUBSECTION SHALL INC LUDE: 2
289289
290290 (I) AN ASSESSMENT OF THE RISKS TO THE STATE POSED BY THE 3
291291 PROPOSED AGREEMENT , INCLUDING ECONOMIC , LEGAL, AND TECHNOLOGICAL 4
292292 RISKS; AND 5
293293
294294 (II) AN EVALUATION OF THE SECURITY PACKAGE PROVIDED BY 6
295295 THE PRIVATE ENTITY A ND PRIVATE FUNDING S OURCE, INCLUDING ANY PAYMEN T 7
296296 AND PERFORMANCE BOND S, LETTERS OF CREDIT , PARENT COMPANY GUARA NTEES, 8
297297 AND LENDER OR EQUITY PARTNER GUARANTEES . 9
298298
299299 (5) (I) A PUBLIC–PRIVATE PARTNERSHIP AGREEMENT WITH A 10
300300 TOTAL VALUE THAT EXCE EDS $1,000,000,000 REQUIRES AN AFFIRMAT IVE VOTE OF 11
301301 THE GENERAL ASSEMBLY BEFORE THE BOARD OF PUBLIC WORKS MAY ACT TO 12
302302 APPROVE THE AGREEMEN T. 13
303303
304304 (II) A VOTE OF THE GENERAL ASSEMBLY TO APPROVE A 14
305305 PUBLIC–PRIVATE PARTNERSHIP WITH A TOTAL VALUE THAT EXCEEDS 15
306306 $1,000,000,000 SHALL OCCUR AFTER CO MPLETION OF THE PERI OD FOR REVIEW , 16
307307 ANALYSIS, AND COMMENT REQUIRED UNDER PARAGRAPHS (1) AND (2) OF THIS 17
308308 SUBSECTION. 18
309309
310310 (C) THE PROPOSED PUBLIC –PRIVATE PARTNERSHIP AGREEMENT SHALL 19
311311 INCLUDE FINANCIAL IN FORMATION REGARDING EACH CONTRACTOR AND ANY 20
312312 SUBCONTRACTOR THAT W ILL PROVIDE PRODUCTS OR SERVICES UNDER TH E 21
313313 PUBLIC–PRIVATE PARTNERSHIP AGREEMENT . 22
314314
315315 10A–301. 23
316316
317317 (a) A reporting agency may accept, reject, or evaluate an unsolicited proposal for 24
318318 a public–private partnership that will assist the reporting agency in implementing its 25
319319 functions in a manner consistent with State policy. 26
320320
321321 (b) A REPORTING AGENCY SHA LL NOTIFY THE LEGISLATIVE POLICY 27
322322 COMMITTEE ON RECEIVIN G AN UNSOLICITED PRO POSAL. 28
323323
324324 (C) (1) A reporting agency shall establish the process for determining whether 29
325325 an unsolicited proposal meets a need of the reporting agency or is otherwise advantageous 30
326326 to the reporting agency. 31
327327
328328 (2) NOTWITHSTANDING PARAG RAPH (1) OF THIS SUBSECTION , A 32
329329 REPORTING AGENCY SHA LL CONSULT WITH THE PUBLIC–PRIVATE PARTNERSHIP 33
330330 OVERSIGHT REVIEW BOARD IN REVIEWING AN UNSOLICITED PROPOSAL . 34 8 HOUSE BILL 956
331331
332332
333333
334334 [(c)] (D) (1) A reporting agency may establish by regulation an application 1
335335 fee for submitting an unsolicited proposal. 2
336336
337337 (2) For an unsolicited proposal that does not address a project already in 3
338338 the State’s Capital Improvement Program or Consolidated Transportation Program 4
339339 planning documents, a reporting agency may require a higher application fee. 5
340340
341341 [(d)] (E) If a reporting agency determines that an unsolicited proposal meets a 6
342342 need of the reporting agency or is otherwise advantageous to the reporting agency, the 7
343343 reporting agency shall: 8
344344
345345 (1) conduct a competitive solicitation process as described under Subtitle 2 9
346346 of this title; 10
347347
348348 (2) protect proprietary information included in the unsolicited proposal to 11
349349 the same extent proprietary information is protected under § 10A–203(b) of this title; and 12
350350
351351 (3) comply with all of the other procedural requirements set forth in this 13
352352 title. 14
353353
354354 [(e)] (F) An individual or firm that has submitted an unsolicited proposal under 15
355355 this title may participate in any subsequent competitive solicitation process. 16
356356
357357 10A–401. 17
358358
359359 (a) (1) Whenever applicable, a public–private partnership agreement shall 18
360360 include the following provisions: 19
361361
362362 [(1)] (I) the method and terms for approval of any assignment, 20
363363 reassignment, or other transfer of interest related to the public–private partnership 21
364364 agreement; 22
365365
366366 [(2)] (II) the methods and terms for setting and adjusting tolls, fares, fees, 23
367367 and other charges related to the public infrastructure asset; 24
368368
369369 [(3)] (III) the method and terms for revenue–sharing or other sharing in 25
370370 fees or charges, in which the public participates in the financial upside of asset performance 26
371371 of the public infrastructure asset; 27
372372
373373 [(4)] (IV) minimum quality standards, performance criteria, incentives, 28
374374 and disincentives; 29
375375
376376 [(5)] (V) operations and maintenance standards; 30
377377
378378 [(6)] (VI) the rights for inspection by the State; 31 HOUSE BILL 956 9
379379
380380
381381
382382 [(7)] (VII) the terms and conditions under which the reporting agency may 1
383383 provide services for a fee sufficient to cover both direct and indirect costs; 2
384384
385385 [(8)] (VIII) provisions for oversight and remedies and penalties for default; 3
386386
387387 [(9)] (IX) the terms and conditions under which the reporting agency 4
388388 originating the public–private partnership shall be responsible for ongoing oversight; 5
389389
390390 [(10)] (X) the terms and conditions for audits by the State, including the 6
391391 Office of Legislative Audits, related to the agreement’s financial records and performance; 7
392392
393393 [(11)] (XI) the terms and conditions under which the public infrastructure 8
394394 assets shall be returned to the State at the expiration or termination of the agreement; 9
395395 [and] 10
396396
397397 [(12)] (XII) requirements for the private entity to provide performance 11
398398 security and payment security in a form and in an amount determined by the responsible 12
399399 public entity, except that: 13
400400
401401 [(i)] 1. requirements for the payment security for construction 14
402402 contracts shall be in accordance with Title 17, Subtitle 1 of this article; and 15
403403
404404 [(ii)] 2. requirements for the amount of the payment security and 16
405405 any performance security in the form of a performance bond for a construction contract 17
406406 shall be based on the value of the respective construction elements of the public–private 18
407407 partnership agreement and not on the total value of the public–private partnership 19
408408 agreement; AND 20
409409
410410 (XIII) IF NEGOTIATED AS AN ELEMENT OF THE PUBLI C–PRIVATE 21
411411 PARTNERSHIP , THE TERMS ESTABLISHI NG A GUARANTEED RATE OF RETURN FOR 22
412412 THE PRIVATE ENTITY . 23
413413
414414 (2) IF THE PUBLIC–PRIVATE PARTNERSHIP AGREEMENT REQUIRES 24
415415 THE STATE OR A SUCCESSOR ENTITY TO TAKE OVER OPERATIONS AND 25
416416 MAINTENANCE OF A PRO JECT, THE TERMS FOR APPROV AL OF ANY ASSIGNMENT , 26
417417 REASSIGNMENT , OR OTHER TRANSFER OF INTERESTS IN THE PRO JECT SHALL 27
418418 INCLUDE A REQUIREMEN T THAT ALL TOLL REVENU E OR OTHER CHARGES R ELATED 28
419419 TO THE PROJECT BE AS SIGNED TO THE STATE OR A SUCCESSOR ENTITY TO APPLY 29
420420 TO THE OPERATIONS AN D MAINTENANCE OF THE PROJECT. 30
421421
422422 (3) THE TERMS OF THE PUBL IC–PRIVATE PARTNERSHIP AGREEMENT 31
423423 PROVIDING FOR REVENU E–SHARING OR OTHER SHARING IN FEES OR CHARGES I N 32
424424 WHICH THE PUBLIC PAR TICIPATES IN THE FIN ANCIAL UPSIDE OF ASS ET 33
425425 PERFORMANCE OF THE P UBLIC INFRASTRUCTURE ASSET SHALL REQUIRE THE 34 10 HOUSE BILL 956
426426
427427
428428 REIMBURSEMENT OF THE STATE FOR ADVANCED PR OJECT EXPENSES . 1
429429
430430 (c) A public–private partnership agreement for a project involving road, highway, 2
431431 or bridge assets may not include a noncompete clause that would inhibit the planning, 3
432432 construction, or implementation of [State–funded] transit OR ROAD MAINTENANCE 4
433433 projects. 5
434434
435435 SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 6
436436 1, 2024. 7