PUBLIC-PRIVATE PARTNERSHIP ACT

Creates the Public-Private Partnerships Act. Creates provisions addressing agreements between public and private entities; transparency between parties; oversight of projects; compliance with state and federal law; and fairness for local jurisdictions when negotiating public-private agreements. Adds provisions containing rules for the formation of an public-private partnership agreement; the establishment of the Infrastructure Investment Commission; the process for procuring contracts; the terms of a public-private partnership agreement; the creation of development and operation standards for projects; the taxation of contractors; financial arrangements; the insurance of debt by a responsible public entity; the acquisition of property; law enforcement; confidentiality of proposals; the maximum term of a public-private agreement; reversion of property to the State; powers of a responsible public entity with respect to qualifying projects; and prohibited local action. Makes a corresponding change in the Freedom of Information Act.