This bill establishes a comprehensive framework for public-private partnerships (PPPs) in transportation projects within Washington State, aiming to improve project delivery and management. It amends existing laws and introduces new sections that clarify the roles and responsibilities of the Washington State Department of Transportation (WSDOT) in utilizing PPPs. Key provisions require WSDOT to develop policies for project evaluation, financing mechanisms, and public interest findings prior to entering into PPP agreements. The legislation emphasizes transparency, public oversight, and the integration of private sector expertise to enhance project outcomes. Additionally, it mandates adherence to prevailing wage laws for projects using public funds and allows the state to exercise eminent domain for necessary property acquisitions.

The bill also creates a public-private partnerships account to manage funds related to transportation projects, allowing for the deposit of various revenues and authorizing expenditures to support private entities involved in project development. It establishes a framework for bond issuance to finance these projects, ensuring that revenue bonds are secured by the public-private partnerships account and are not general obligations of the state. Furthermore, the bill repeals outdated statutes related to previous PPP frameworks, effectively replacing them with the new provisions outlined in this legislation. The act is set to take effect on January 1, 2026, marking a significant change in the financing and management of transportation projects in Washington State.

Statutes affected:
Original Bill: 47.56.030, 47.56.031, 70A.15.4030
Substitute Bill: 47.56.030, 47.56.031, 70A.15.4030