(a) On and after October 27, 2011, and prior to January 1, 2020, the Governor shall approve not more than five projects to be implemented as public-private partnership projects. The Governor shall not approve any such project unless the Governor finds that the project will result in job creation and economic growth. Any agency seeking to establish a public-private partnership shall, after consultation with the Commissioners of Economic and Community Development, Administrative Services and Transportation, the State Treasurer and the Secretary of the Office of Policy and Management, submit one or more projects to the Governor for approval.
(b) In determining whether a project is suitable for a public-private partnership agreement, the agency shall conduct an analysis of the feasibility, desirability and the convenience to the public of the project and whether the project furthers the public policy goals of section 4-255, this section and sections 4-257 to 4-263, inclusive, taking into consideration the following, when applicable:
(1) The essential characteristics of the proposed facility;
(2) The projected demand for use of the facility and its economic and social impact on the community and the state;
(3) The technical function and feasibility of the project and its conformity with the state plan of conservation and development adopted under chapter 297;
(4) The benefit to clients of the agency and the public as a whole;
(5) An analysis of the value provided for the cost of the project, that at a minimum includes a cost-benefit analysis, an assessment of opportunity costs and any nonfinancial benefits of the project;
(6) Any operational or technological risk associated with the proposed project;
(7) The cost of the investment to be made and the economic and financial feasibility of the project;
(8) An analysis of public versus private financing on a present value basis, and the eligibility of the project for other public funds from local or federal government sources;
(9) The impact to the state's finances of undertaking the project by the agency; and
(10) The advantages and disadvantages of using a public-private partnership rather than having the state agency perform the function.
(c) An agency shall not include a project solely based upon the amount of potential revenue generated by such project.
(d) Any agency submitting a project in accordance with subsection (a) of this section shall at the same time transmit, in accordance with the provisions of section 11-4a, a copy of its submission to the joint standing committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding and appropriations and the budgets of state agencies. Said committees shall hold public hearings on any such submission.
(e) The Governor shall notify the agency when a project has been approved as a public-private partnership project.
(f) On or before January 15, 2013, and annually thereafter, the Governor shall report, in accordance with the provisions of section 11-4a, to the General Assembly concerning the status of the public-private partnerships established under this section.
(Oct. Sp. Sess. P.A. 11-1, S. 81; P.A. 13-247, S. 201; P.A. 14-217, S. 160; P.A. 17-149, S. 1.)
History: Oct. Sp. Sess. P.A. 11-1 effective October 27, 2011; P.A. 13-247 amended Subsec. (a) to replace reference to Commissioner of Construction Services with reference to Commissioner of Administrative Services, effective July 1, 2013; P.A. 14-217 amended Subsec. (a) to extend deadline for approval of projects from January 1, 2015, to January 1, 2016, effective July 1, 2014; P.A. 17-149 amended Subsec. (a) to extend deadline for approval of projects from January 1, 2016, to January 1, 2020, effective July 7, 2017.