Bill > A3859

This bill allows local government units, school districts, State government entities, Rutgers University, and the New Jersey Institute of Technology to enter into public-private partnership agreements with private entities for the development, construction, and maintenance of building and highway infrastructure projects, provided the projects are entirely financed by the private entity. The New Jersey Economic Development Authority (EDA) will oversee these agreements, requiring applications to include project details, financial information, and a long-term maintenance plan, and will post the status of all reviewed projects on its website. The bill also mandates prevailing wage rates for workers, requires project labor agreements for building construction, and specifies contractor qualifications, including registration and a minimum percentage of New Jersey resident employees. Furthermore, it allows the EDA to provide tax-exempt private activity bond financing to private entities involved in these partnerships. Existing provisions for public-private partnerships with State and county colleges are also amended to align with these new requirements, including updated deadlines for EDA review and the elimination of certain previous restrictions.