May 22, 2009
Despite a large spike in 2007 of state legislation for public private projects (PPPs), last year saw a significant decrease in the number of states that passed such permits. This is likely a result of the diminishing private funding for PPPs due to the current economic conditions within the United States. Additionally, recent reports from the U.S. House Transportation Committee on PPPs could have reflected negatively on them as well. However, international funding may still be an option seeing how PPPs were originally an overseas model. While many are concerned with the concept of PPPs in the United States, state officials should be able to protect public interest in PPPs with concession contracts, in which they have been able to provide oversight and address work force issues.
The only PPP-related enactment of 2008 was West Virginia
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Category: Contract Bonds, Payment Bond, Performance Bond, Surety & Construction News
Tags: payment bonds, performance bonds, PPP, public private projects, West Virginia
May 19, 2009
Last year, a number of states passed legislation aimed at developing new technical assistance programs and surety bond guarantee programs, most of which were designed to aid small and emerging contractors (contract bonds), and other start-up companies, to include some minority business enterprises.
In the state of California, AB 2376 was enacted which crated the Small and Emerging Contractors Bonding Program, which followed a 2006 executive order from Governor Arnold Schwarzenegger. This newly enacted law tasks the Department of Transportation to work with California
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Category: Bid Bond, Contract Bonds, Payment Bond, Performance Bond, Surety & Construction News, Uncategorized
Tags: bond guarantee programs, minority business enterprises, small businesses, start-up companies, technical assistance programs
