Did You Know

P3 Resources

Overview

FHWA

FHWA encourages the consideration of public-private partnerships (P3s) in the development of transportation improvements. Early involvement of the private sector can bring creativity, efficiency, and capital to address complex transportation problems facing state and local governments. The Office of IPD provides information and expertise in the use of different P3 approaches, and assistance in using tools including the SEP-15 program, private activity bonds (PABs), and the TIFIA Federal credit program to facilitate P3 projects.

THE LEGISLATION

In 2010 the governors of Illinois and Indiana signed a memorandum of understanding, outlining a mutual commitment to the project connecting south Chicago to Indiana. Illinois' governor signed into law a bill permitting the state to partner with private groups to develop, build and manage the proposed 53-mile expressway. Indiana's governor also approved similar legislation, which authorizes a private group to build and operate the proposed $1 billion roadway in exchange for toll revenue. In 2011, the Illinois General Assembly approved a P3 bill with Senate lawmakers voting 33-12 in favor of the bill. State lawmakers would be required to approve all potential P3s and the state is prohibited from partnering to expand existing roads.

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