Amendment to Indiana’s Public-Private Partnership (P3s) Laws to Require Surety Bonds

On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of firms employing professional surety bond producers including those licensed and conducting business in Indiana, I am contacting you concerning the issue that is before your Interim Committee and to specifically request that Indiana’s three laws addressing public-private partnerships (P3s), §§5-23-1-1 thru 5-23-7-2, Title 5. State and Local Administration, Article 23 Public-Private Agreements, §§8-15.5-1-1 thru 8-15.5-13- 8, Title 8. Utilities and Transportation, Article 15.5 Public-Private Agreements for Toll Road Projects, and §§ 8-15.7-1-1 thru 8-15.7-16-8, Article 15.7 Public-Private Partnerships, be amended to clarify that surety bonds be required at 100% of the contract value of the design and construction portion of a P3 agreement.

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