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LC 2845

Revise laws to allow public and private partnerships with capitol development funds

2025 Regular Session

Authorizes public-private partnerships to fund capitol development with capitol funds, boosting private capital for state projects while mandating governance and oversight.

(LC) Draft Died in Process
#revenue #state #appropriations
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Bill Summary · LC 2845

Summary of LC 2845: Revise laws to allow public and private partnerships with capitol development funds

Overview

LC 2845 is a draft bill introduced on December 11, 2024, classified as an appropriations and state revenue measure relating to state capitol development funds. The bill's stated purpose, by its title, is to revise existing laws to permit public-private partnerships (PPPs) involving capitol development funds. The legislative draft has not progressed and is currently listed as on hold, with subsequent status updates indicating the draft died in process.

Purpose and Intent

  • Aim: To allow or expand the use of public-private partnerships for capitol development projects.
  • Core concept: Create or modify legal pathways for collaboration between public entities and private partners to fund, develop, or manage capitol-related infrastructure or facilities using capitol development funds.
  • Scope in title: The changes would pertain to “capitol development funds,” potentially redefining eligibility, uses, governance, and funding mechanisms for such capital projects.

Note: The actual statutory text is not provided here, so the precise definitions, eligibility criteria, and procedural requirements are not known from the available materials. The summary reflects the bill’s stated objective as indicated by the title.

Key Provisions (inferred from the title; actual text not available)

  • Authority to pursue PPP arrangements for capitol development projects.
  • Procedures for allocating or leveraging capitol development funds in PPP structures.
  • Potential governance, procurement, and oversight requirements for PPPs.
  • Possible reporting, transparency, and accountability provisions related to private participation in public capital projects.
  • Definitions of “capitol development funds” and related terms as used in the revised framework.

Note: Without the bill text, these are plausible areas such reforms typically address and should not be taken as confirmed provisions.

Affected Parties

  • State or governmental bodies responsible for capitol development and capital projects.
  • Private sector partners (developers, investors, construction entities) entering PPP agreements.
  • Stakeholders and users of capitol facilities that may be affected by funded projects.
  • Auditors and oversight bodies responsible for financial accountability.

Procedural History and Timeline

  • Introduced: December 11, 2024.
  • 2024-12-11: Drafter Assigned; Draft On Hold.
  • 2025-05-27: (LC) Draft Died in Process.
  • Current status: Draft died in process; effectively no further action expected unless reintroduced.

Potential Fiscal and Policy Impacts (High-Level)

  • Could unlock private capital for capitol projects, potentially accelerating development or expanding capacity.
  • May alter funding mix, risk allocation, and return expectations for capitol projects.
  • Likely to require new or revised procurement rules, governance structures, and oversight to ensure public accountability.
  • Fiscal impact would depend on the final provisions, including appropriation levels, debt guarantees, or incentives associated with PPPs.

Notes for Readers

  • The bill’s substantive provisions are not available in the provided materials. The summary reflects the title’s stated aim and typical implications of PPP-enabled capital legislation.
  • With the draft having died in process, there is no current active path for this bill to become law unless reintroduced with new language.

Compiled from official sources — confirm details with the bill’s official record.

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