SCS/SB 534 - This act establishes the "Public-Private Partnership Authority Act". This act allows responsible public entities that have the power to develop or operate transportation infrastructure to contract with private sector entities for the completion, operation, or maintenance of transportation infrastructure projects. This act establishes the Building Missouri's Future Board which has the power to approve all public-private partnership agreements.
This act also allows responsible public entities to develop and implement a competitive process for identifying suitable projects for public-private partnership agreements. This act requires a comprehensive process for soliciting and evaluating proposals for public-private partnership agreements. This act further requires the provisions of the Public-Private Partnership Authority Act to be construed liberally and also provides for tax exemptions for income derived from the public-private partnership agreements. The act also permits a responsible public entity to delegate authority to impose or collect user fees to a private sector entity under the terms of a public-private partnership agreement. This act also allows responsible public entities to contract for the professional services to identify and evaluate projects to be subject to public-private partnership agreements and the proposals from private sector entities for such projects. The terms of this act are severable, so that if any provision is found to be invalid the other provisions are not affected by that finding.