"Public private partnerships (P3s) in transportation are contractual relationships typically between a state or local government, who are the owners of most transportation infrastructure, and a private company. P3s provide a mechanism for greater private-sector participation in all phases of the development, operation, and financing of transportation projects. Although there are many different forms P3s can take, this report focuses on the two types of agreements that generate the most interest and discussion: (1) design-build-finance-operate-maintain (DBFOM); and (2) longterm lease. [...] Two broad policy options for expanding use of P3s would be to actively encourage P3s with program incentives, but with regulatory controls to protect the public interest, or to aggressively encourage the use of P3s through program incentives and deregulation. This report discusses several possible issues and policy options that Congress may want to consider. These include P3 project evaluation and transparency, asset recycling, incentive grants, a national infrastructure bank, equity investment tax credits, and deregulation of Interstate highway tolling. The report also discusses changes to the existing TIFIA (Transportation Infrastructure Finance and Innovation Act) and PABs (private activity bonds) programs."
CRS Report for Congress, R45010
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html