Urgency To Use P3 Grows, But Lack Of Law Is An Obstacle
By Igor Kossov (November 21, 2014, 7:36 PM EST) -- The United States' crumbling infrastructure and lack of funds is forcing an increasing number of local governments to turn to public-private partnerships, but many states lack comprehensive legislation for so-called P3 deals, requiring law firms to mobilize practices to help get a project developed.
According to the U.S. Department of Transportation, 17 states lacked any P3 legislation as of February, while the remaining 33 states have a varied patchwork of laws, many of which are only related to certain specific projects.
State governments are monitoring the projects that will be completed in the next two to three years to determine whether...
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