The law firm of Allen & Overy recently issued helpful, detailed summaries of the new laws authorizing public-private partnerships (PPPs) for transportation projects in Arizona and Massachusetts.
According to the firm, Arizona’s recently-enacted House Bill 2396 “establishes a state legislative framework that, in scope and substance, is among the best [PPP] statutes adopted yet in the United States. Flexibility in procurement, favorable tax, financing, and performance bonding provisions, together with a number of policy innovations, are the hallmark of H.B. 2396.” Read the full Arizona summary here.
In Massachusetts, the new Transportation Reform Act (Senate Bill 2087) is the first transportation PPP bill enacted in the northeastern United States. Allen & Overy note that, “[w]ith [PPP] legislation pending in Pennsylvania and the recent endorsement of innovative procurements by the New York State Asset Maximization Commission, the enactment of SB2087 signals a possible change in direction within the Northeastern United States on the issue of procurement reform and [PPPs].” Read the whole summary here.
For more details on recent state legislative activity on PPPs, as well as the latest news on transportation partnerships here and around the world, see Reason Foundation’s new Annual Privatization Report 2009.