LT. GOVERNOR BROWN TO TESTIFY ON
BEHALF OF ADMINISTRATION’S PUBLIC-
PRIVATE PARTNERSHIPS LEGISLATION
ANNAPOLIS, Md. (February 14, 2013) – TOMORROW, Lt. Governor Anthony G. Brown will testify before the House Environmental Matters Committee in support of the O’Malley-Brown Administration’s Public-Private Partnerships legislation (HB560). The bill creates a framework for future public-private partnerships (P3s) that will provide the private sector with a stronger, more predictable and streamlined process that balances risks and protects public assets, while ensuring a strong workforce. The bill is prospective and revenue neutral.
“Maryland has tremendous needs for funding transportation and infrastructure projects, and in these difficult times, it’s critical that we explore innovative tools for funding these projects. Encouraging private investment in public infrastructure has the potential to contribute millions of dollars and create thousands of jobs throughout Maryland,” said Lt. Governor Brown. “A strong legislative framework will make the P3 process in our state more predictable, streamlined, transparent and attractive to private investment while ensuring strong workforce protections and maintaining control of State assets.”
Specifically, the legislation will add additional oversight at the beginning of a project, while reducing the amount of time for a project to receive final approval; require open and competitive solicitations for all projects; and allow the private sector to submit new “unsolicited” concepts to address Maryland’s infrastructure needs. Initial estimates have found that additional P3s could contribute between six percent and ten percent of Maryland’s $3.1 billion annual capital budget while creating as many as 4,000 jobs. While Maryland has entered into three P3 deals over the past five years, the private sector, Department of Legislative Services and General Assembly have asked that the Administration improve Maryland’s P3 process in order to attract private investment to help build new infrastructure in Maryland.
WHAT: Lt. Governor Brown to Testify on Behalf of Administration’s Public-Private Partnerships Legislation
WHERE: House Environmental Matters Committee
House Office Building, Room 251
WHEN: TOMORROW, Friday, February 15, 2013