Adam Margolin Shares Perspective on Potential Illinois P3 Bill in Bond Buyer Article
Adam Margolin, an Energy, Infrastructure and Environment partner in the Quarles & Brady Chicago office, provided insight about a pending bill in Illinois that would expand P3 (public-private partnerships) authority across the state, particularly for local governments, in an article in The Bond Buyer. Currently only home-rule local governments are allowed to enter into P3s. Broadening P3 authority to non-home rule entities would mean an estimated 85% of the state’s cities and towns would be authorized to use the financing method of entering specified finance agreements.
An excerpt from the article:
Meanwhile, SB 1900 [ilga.gov] in Illinois would allow non-home rule governments and certain state agencies to use the method, said Adam Margolin, an Energy, Infrastructure and Environment partner in the Quarles & Brady Chicago office.
“It’s a significant bill,” Margolin said. “What’s really key about this legislation is that the authority in Illinois for P3s is relatively limited now.”
Currently, the P3 model is limited to the Illinois Department of Transportation, the Illinois State Toll Highway Authority and home-rule local governments, which make up about 15% of the state's municipalities, Margolin said.
The bill covers existing assets as well as new ones, allowing for the possibility of asset-recycling, and would apply to a variety of assets like airports and ports as well as any new or existing local, county or state road, Margolin said.
“The selection of the private partner and the definition of the facilities is very broad and covers many different industries and types of projects,” Margolin said. “If folks are interested in P3s, that’s the type of broad-enabling authority that they would like to see.”