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Senate OKs Bill To Encourage Private-Public Transportation Partnerships
By a vote of 49 to 1, the Senate Wednesday approved Senate Bill 344 (Rafferty-R-Montgomery)  which would encourage the private sector to join with the Commonwealth and local governments in funding transportation projects throughout the state.
            Senate Bill 344 would establish Public-Private Partnerships (P3s), which are contractual agreements that allow for greater private sector participation in the delivery and financing of transportation needs and improvements.
            "In these tough economic times, P3s have been an innovative and successful alternative to traditional funding sources in other states," Sen. John Rafferty, Majority Chair of the Senate Transportation Committee, said. "P3s have a proven track record of relieving congestion and encouraging infrastructure development – two areas of concern that we face in Pennsylvania and need to address."
            He said early involvement of the private sector can bring creativity, efficiency and capital to address complex transportation problems facing cash-strapped state and local governments.
            A recent report by the U.S. Department of Transportation found that more transportation public-private partnerships were completed over the last three years than in any other compatible time period in history.
            According to the report, more than 20 major highway and transit projects are currently being conducted in partnership with the private sector at various stages of development in the U.S.
Sen. Rafferty said the establishment of P3s is especially critical, given the transportation funding crisis in Pennsylvania.
            "This bill isn't the answer to all of our state's transportation problems, but it is an important step we can take now to start addressing those concerns," Sen. Rafferty said. "We've worked extensively with the House and other parties in refining this bipartisan bill, and I look forward to seeing it through the process and eventually into law."
            Senate Bill 344 would:
-- Provide for Public-Private Partnerships in order to allow the private sector to join with the Commonwealth and municipal authorities in providing funding to address any transportation needs; and
-- Require that the net proceeds paid to the Commonwealth or a municipal authority by a private sector partner would only be used for transportation funding in the state.

12/19/2011

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