VIRGINIA—HB311—PUBLIC PRIVATE TRANSPORTATION ACT

Virginia statute, to become effective 10-1-14, provides for public private partnerships on transportation facilities.

New legislation outlines the provisions for a Comprehensive Agreement to be entered into by a public entity and a private entity for the development and/or operation of transportation facilities.  As part of the Comprehensive Agreement, the private entity must obtain a performance and payment bond, in the form and amount satisfactory to the responsible public entity.   Click here for legislation
 

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