ANNAPOLIS, Maryland — The Maryland Board of Public Works would not be able to approve very large public-private joint projects in the state — including the governor’s planned highway widening project — until a credit check, environmental assessment and review from a committee are complete, under legislation advancing in the General Assembly.
House bill 1091, which passed the House on March 14, would require an independent credit rating report of companies participating in public-private partnership agreements — or P3s — costing over $500 million.
The report includes the credit strength of the private entity, impact on state and local government credit rating and a “recommendation of a minimum credit rating to be maintained by the private entity,” according to an analysis of the bill.
A Legislative Policy Committee would need to review all P3 agreements and an environmental impact statement would have to be completed before project approval, according to an analysis of the bill.
The state must be reimbursed for any design expenses and up-front payments, and the state or a successor will take on any toll revenue or other charges if they have to complete a P3 project, according to an analysis of the bill.
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3 comments:
Smells like a scenario rife for money to change hands to ensure each project gets a green light from the favored few in appointed position with the power to impede. The Democrat way.
Benefit to the public? Zero.
What I just read what is the problem? It was never stated or explained that is normal procedure they are going through. What is the big deal?
Always said environmentalists control this state.
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