1. (1) The state authority, a bi-state authority, or a project authority may, with approval of the General Assembly pursuant to KRS 175B.020(10), and if applicable, KRS 175B.030(9), utilize a public-private partnership.
2. (2) An authority utilizing a public-private partnership shall continue to be responsible for oversight of any function authorized by this chapter that is delegated to or otherwise performed by a public-private partnership.
3. (3) A public-private partnership shall not be used to circumvent any requirements or restrictions placed upon any authority pursuant to this chapter.

4. (4) An authority proposing to utilize a public-private partnership shall include in the financial plan required by KRS 175B.030 or 175B.035:

   1. (a) The parameters of the public-private partnership agreement;
   2. (b) The duties and responsibilities to be performed by the private partner or partners; The methods of oversight to be employed by the authority;
   3. (c)
   4. (d) The duties and responsibilities of the project that are to be performed by the authority, the cabinet, and any other partners to the agreement; and
   5. (e) Other information required by the state authority or the cabinet to evaluate the financial plan and the proposed public-private partnership.
5. (5) A private entity desiring to be a private partner shall demonstrate to the satisfaction of the state authority and the cabinet that it is capable of performing any function to be authorized by the public-private partnership.
6. (6) A public-private partnership authorized or utilized pursuant to this section shall be subject to KRS 176B.030(5) to (8). shall
7. (7) The cabinet promulgate administrative regulations detailing the procurement approach and proposal review process to be used for a public-private partnership by December 31, 2016.

Effective: April 8, 2016

History: Created 2016 Ky. Acts ch. 67, sec. 10, effective April 8, 2016.