LT. GOVERNOR BROWN STATEMENT ON PRESIDENT OBAMA’S PLAN TO PROMOTE PRIVATE INVESTMENT IN PUBLIC INFRASTRUCTURE
FOR IMMEDIATE RELEASE
Office: 410-260-3847 <tel:410-260-3847>
Cell: 410-570-3115 <tel:410-570-3115>
ANNAPOLIS, Md. (March 29, 2013) – Today, Lt. Governor Anthony G. Brown issued the following statement in response to the Obama Administration’s proposed plan to create jobs by encouraging private investment in public infrastructure:
“This afternoon, President Obama called on leaders in government and the private sector to work together to expand public-private partnerships. These partnerships will create jobs and help states make much needed improvements to their infrastructure. As Chair of Maryland’s Commission on Public-Private Partnerships, I join the President in calling on state lawmakers to consider this innovative and important tool.
Public-private partnerships have tremendous potential in Maryland: we know that they could potentially finance up to 6-10% of our capital budget and create thousands of jobs. That’s why the Governor and I submitted critical legislation - HB560 – to create a strong, predictable, fair and transparent process for future public-private partnerships. I look forward to continuing to work with our partners in the General Assembly to pass this bill, which will allow us to attract private investment in our infrastructure, create jobs and strengthen Maryland’s economy.”
Earlier this month, the House of Delegates passed the Public-Private Partnerships legislation (HB560) by a vote of 119-19. This week the Senate Budget & Taxation Committee unanimously passed the bill. It is expected to be taken up by the full chamber sometime next week.
The Administration’s proposed bill, which Lt. Governor Brown is championing this Session, creates a framework for 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. 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.