                                 CODE OF VIRGINIA

TRANSPORTATION PUBLIC-PRIVATE PARTNERSHIP STEERING COMMITTEE (§ 33.2-1803.2)

A. There is hereby established the Transportation Public-Private Partnership
Steering Committee (the Committee) to evaluate and review financing options for
the development and/or operation of transportation facility or facilities.
			The Committee shall consist of the following members:

   1. Two members of the Commonwealth Transportation Board;

   2. The staff director of the House Committee on Appropriations, or his
   designee, and the staff director of the Senate Committee on Finance and
   Appropriations, or his designee;

   3. A Deputy Secretary of Transportation who shall serve as the chairman;

   4. The chief financial officer of either the Department of Transportation or
   the Department of Rail and Public Transportation, as appropriate; and

   5. A nonagency public financial expert, as selected by the Secretary of
   Transportation.

B. Prior to the initiation of any procurement pursuant to § 33.2-1803 by the
Department of Transportation, the Virginia Passenger Rail Authority, or the
Department of Rail and Public Transportation, the Committee shall meet to review
the public sector analysis and competition developed pursuant to §
33.2-1803.1:1 and concur that:

   1. The assumptions regarding the project scope, benefits, and costs of the
   public sector option developed pursuant to &#xA7; 33.2-1803.1:1 were fully and
   reasonably developed;

   2. The assumed financing costs and valuation of both financial and
   construction risk mitigation included in the public sector option are
   financially sound and reflect the best interest of the public; and

   3. The terms sheet developed for the proposed procurement contains all
   necessary elements.

C. After receipt of responses to the request for qualifications, but prior to
the issuance of the first draft request for proposals, the Committee shall meet
to determine that the development and/or operation of the transportation
facility or facilities as a qualifying transportation facility serves the public
interest pursuant to &#xA7; 33.2-1803.1. If the Committee makes an affirmative
determination, as evidenced by an affirmative vote of a majority of the members
of the Committee, the Department of Transportation or the Department of Rail and
Public Transportation may proceed with the procurement pursuant to &#xA7;
33.2-1803.

D. Meetings of the Committee shall be open to the public, and meetings will be
scheduled on an as-needed basis. However, the Committee may convene a closed
session pursuant to the provisions of subdivisions A 6 and 29 of &#xA7; 2.2-3711
to allow the Committee to review the public sector analysis and competition and
to review proposals received pursuant to a request for qualifications.

E. The Committee shall, within 10 business days of any meeting, report on the
findings of such meeting. Such report shall be made to the Chairmen of the House
and Senate Committees on Transportation, the House Committee on Appropriations,
and the Senate Committee on Finance and Appropriations.

F. Within 60 days of the execution of a comprehensive agreement pursuant to
&#xA7; 33.2-1803, the Department of Transportation or the Department of Rail and
Public Transportation, as appropriate, shall, in closed session, brief the
Committee on the details of the final bids received and the details of the
evaluation of such bids.

HISTORY: 2015, c. 612; 2017, cc. 539, 551; 2020, cc. 1230, 1275.