Kentucky Statutes 175B.037 – Use of public-private partnership — Requirements — Administrative regulations
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(1) The state authority, a bi-state authority, or a project authority may, with approval of the General Assembly pursuant to KRS § 175B.020(10), and if applicable, KRS § 175B.030(9), utilize a public-private partnership.
(2) An authority utilizing a public-private partnership shall continue to be responsible for oversight of any function authorized by this chapter that is delegated to or otherwise performed by a public-private partnership.
(3) A public-private partnership shall not be used to circumvent any requirements or restrictions placed upon any authority pursuant to this chapter.
(4) An authority proposing to utilize a public-private partnership shall include in the financial plan required by KRS § 175B.030 or 175B.035:
(a) The parameters of the public-private partnership agreement;
(b) The duties and responsibilities to be performed by the private partner or partners;
(c) The methods of oversight to be employed by the authority;
(d) The duties and responsibilities of the project that are to be performed by the authority, the cabinet, and any other partners to the agreement; and
(e) Other information required by the state authority or the cabinet to evaluate the financial plan and the proposed public-private partnership.
(5) A private entity desiring to be a private partner shall demonstrate to the satisfaction of the state authority and the cabinet that it is capable of performing any function to be authorized by the public-private partnership.
(6) A public-private partnership authorized or utilized pursuant to this section shall be subject to KRS § 176B.030(5) to (8).
(7) The cabinet shall promulgate administrative regulations detailing the procurement approach and proposal review process to be used for a public-private partnership by December 31, 2016.
Effective:April 8, 2016
History: Created 2016 Ky. Acts ch. 67, sec. 10, effective April 8, 2016.
(2) An authority utilizing a public-private partnership shall continue to be responsible for oversight of any function authorized by this chapter that is delegated to or otherwise performed by a public-private partnership.
Terms Used In Kentucky Statutes 175B.037
- Authority: means the state authority, or a bi-state authority, or a project authority, unless the specific use requires that it apply only to the state authority, or a bi-state authority, or a project authority. See Kentucky Statutes 175B.010
- Bi-state authority: means an authority created under KRS §. See Kentucky Statutes 175B.010
- Cabinet: means the Transportation Cabinet. See Kentucky Statutes 175B.010
- Oversight: Committee review of the activities of a Federal agency or program.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
- Private partner: means any entity that is a partner in a public-private partnership other than:
(a) The Commonwealth of Kentucky. See Kentucky Statutes 175B.010 - Project: includes all bridges, tollhouses, garages, and other buildings and facilities which the authority deems necessary for the operation of the project, together with all property, rights, easements, and interests which may be acquired by the authority or by the Commonwealth for the construction and operation of a project. See Kentucky Statutes 175B.010
- Public-private partnership: means an entity operating pursuant to a written public-private partnership agreement, and composed of:
(a) An authority or authorities. See Kentucky Statutes 175B.010 - State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) A public-private partnership shall not be used to circumvent any requirements or restrictions placed upon any authority pursuant to this chapter.
(4) An authority proposing to utilize a public-private partnership shall include in the financial plan required by KRS § 175B.030 or 175B.035:
(a) The parameters of the public-private partnership agreement;
(b) The duties and responsibilities to be performed by the private partner or partners;
(c) The methods of oversight to be employed by the authority;
(d) The duties and responsibilities of the project that are to be performed by the authority, the cabinet, and any other partners to the agreement; and
(e) Other information required by the state authority or the cabinet to evaluate the financial plan and the proposed public-private partnership.
(5) A private entity desiring to be a private partner shall demonstrate to the satisfaction of the state authority and the cabinet that it is capable of performing any function to be authorized by the public-private partnership.
(6) A public-private partnership authorized or utilized pursuant to this section shall be subject to KRS § 176B.030(5) to (8).
(7) The cabinet shall promulgate administrative regulations detailing the procurement approach and proposal review process to be used for a public-private partnership by December 31, 2016.
Effective:April 8, 2016
History: Created 2016 Ky. Acts ch. 67, sec. 10, effective April 8, 2016.