The proposed legislation is intended to create "The Center for Alternative Finance and Procurement" based within the Texas Facilities Commission. The center will provide consulting services to Texas public entities on P3s best practices and effective alternative public infrastructure procurement.
Tim Merriweather of the Texas Infrastructure Council praised Representative Geren for introducing H.B. 2475 saying,
"This is an important step forward in the effort to create a Texas P3 'center of excellence,' providing Texas governmental entities with a resource to review and ensure P3s transactions are soundly structured providing return on investment to the public."
Texas state and local governments traditionally operate very efficiently, with a high degree of accountability to the public and with minimum levels of taxation. Because of the expansive state economy and the needs of a rapidly growing population, agencies at all levels of government can be challenged to meet the increasing infrastructure demands. Given that there will be more demand for public infrastructure than traditional debt can support, P3s provide a viable procurement alternative.
In a December 2014 report to the Speaker of the House and the full Legislature, the Texas House of Representatives' Committee on Small Business and Economic Development called for the creation of a Texas P3 center of excellence. H.B. 2475 is expected to be referred to a House of Representatives Committee, and is expected in the near term, to begin to move through the legislative process.
We have recently reported that the New Mexico House of Representatives passed a P3 legislation on March 11th.
In addition, during February this year: