Bill > HB299

This bill, titled the "Public-Private Partnerships Act," establishes a framework for collaboration between government entities (public partners) and private companies (private partners) to design, finance, build, operate, or maintain public projects. A public project is broadly defined to include various infrastructure and facilities such as buildings, schools, hospitals, transportation systems, and utilities, with some exceptions like affordable housing. The act outlines various project delivery methods and procurement processes, allowing for flexibility in how public projects are developed, including considering unsolicited proposals. It emphasizes the importance of public input through hearings and requires transparency regarding project proposals, with specific provisions for protecting confidential business information. The General Services Department (department) plays a key role in developing guidelines, reviewing and approving certain large or long-term agreements, and providing assistance to local governments. The bill details evaluation criteria for public-private partnerships, focusing on community needs, cost-effectiveness, innovation, and benefits to the public, including provisions for retaining and training New Mexico residents and using local materials. Agreements must include details on revenue collection, risk and cost sharing, performance standards, and dispute resolution. Funding for these projects can come from various public and private sources, and any revenue bonds issued are not considered general obligations of the state or local government. The act also addresses the reversion of projects to public control upon termination and outlines remedies for material defaults by private partners, while ensuring law enforcement powers remain in effect on public projects.