The bill amends Section 37-2-31 of the General Laws in Chapter 37-2, titled "State Purchases," to introduce a framework for public-private partnerships (PPPs) in state contracts. New definitions are provided for terms such as "state," "private partner," "public-private partnership agreement," "risk," "value for money," and "project labor agreement." The bill allows for the use of various contract types, including PPP agreements, to promote the best interests of the state, while ensuring that state agencies maintain oversight of functions delegated to private partners.

Additionally, the bill mandates that by July 1, 2026, the chief purchasing officer within the Department of Administration must establish rules for evaluating and soliciting PPP agreements. These rules will be developed in consultation with relevant stakeholders, including contractors and labor organizations. The bill outlines the minimum requirements for requests for proposals related to PPPs, including evaluation factors and the necessity for a value-for-money analysis. It also stipulates that any PPP agreement must comply with existing laws regarding state services and construction projects. The act will take effect upon passage.