Rep. Rick Geist (R-Altoona, Pa.), majority chairman of the House Transportation Committee, announced that his public-private partnership (P3) legislation contained in House Bill 3 was approved by the committee and sent to the floor of the House. The P3 concept is one in which the private sector can partner with government to help rebuild the transportation infrastructure.
“There has been a great deal of effort put into this legislative concept in the past eight years and I am pleased that we have now moved this forward for full House consideration,” said Geist. “As we face our transportation needs, time is of the essence. This is an important tool in the effort to build and repair highways and bridges and get funding to mass transit needs. We must take steps now to improve our infrastructure, which will also help the overall economy of Pennsylvania. I look forward to a full debate and passage in the House.”
This is the fourth consecutive legislative session in which Geist has introduced P3 legislation. Under these contractual arrangements, in which the Commonwealth would maintain ownership control of the asset or facility, an infusion of private sector capital accelerates the maintenance, improvement and expansion of roads, bridges and other infrastructure.
Thirty-two states and Puerto Rico already have enacted legislation that enables and provides a framework for transportation-oriented P3s.
A recent report by the State Transportation Advisory Committee estimates that an additional $3.5 billion a year is needed to meet existing and immediate transportation infrastructure needs.