A senate panel Tuesday approved legislation to remove a $25 million dollar cap for future public-private partnership state projects.
Most of Kentucky’s current P-3 projects are transportation related. Those projects are not covered by this legislation. Bill sponsor Max Wise of Campbellsville says the current law could be putting state government at a competitive disadvantage. “We’re really missing out on some really, really prime opportunities because of how we’ve got it currently written in statute,” said Wise.
Regina Stivers, Deputy Secretary in the Tourism, Arts, and Heritage Cabinet says those opportunities might include large tourism projects. “We don’t have, for instance, a Greenbrier or something like that, a Blackberry Farm and so, with conversations about what we might have here in Kentucky to be competitive with other states, tourism related. They just know that any project like that would be over $25 million,” noted Stivers.
Stivers says there is not a current project which exceeds the $25 million limit. The legislation includes a sunset provision, which would return the monetary cap in 2020.