$50 Billion In Federal Funds Proposed To Support P3s

more+
less-

The U.S. Senate is currently considering legislation that would establish the “American Infrastructure Fund,” a $50 billion fund that would help finance public-private partnerships (P3s) infrastructure projects prioritized by state and local governments.  The fund would also prioritize social infrastructure P3 projects, such as hospitals and schools, which have thus far lagged behind transportation infrastructure P3s.  Locally, however, educational institutions have begun to rely on P3 deals to fund their expansions, as seen in the P3s currently being implemented by Miami-Dade College, Broward College, and Florida International University.

Moving Ahead for Progress in the 21st Century (MAP-21) Program

The House of Representatives is also currently focusing on P3s and has formed a panel on Public-Private Partnerships to study and facilitate P3s in various sectors.  The panel will be chaired by Representative John J. Duncan, Jr. (R-TN), who also serves as the vice chairman of the Transportation and Infrastructure Committee, which also focuses on increasing P3 opportunities.  Most recently, the committee began the proceedings to re-authorize the Moving Ahead for Progress in the 21st Century (MAP-21) program, which provides funding for transportation infrastructure, with a special focus on transportation P3s.

Although several transportation and social P3 projects are already on the horizon in South Florida, these new sources of federal funding are likely to further increase P3 opportunities in the area in the coming years.

Topics:  Federal Funding, Infrastructure, MAP-21, P3s

Published In: Business Organization Updates, Elections & Politics Updates, Government Contracting Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Bilzin Sumberg - New Miami | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »