§ 2612.
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/vt/title-19/chapter-26/2612A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 2612. Definitions [Repealed effective July 1, 2026]
As used in this subchapter:
(1)“Facility” means transportation infrastructure that is, or if developed, would be, within the jurisdiction of the Agency or eligible for federal-aid funding managed through the Agency.
(2)“Project” means the capital development of a facility.
(3)“Proposal” means a conditional offer of a private entity that, after review, negotiation, and documentation, and after legislative approval if required under this subchapter, may lead to a P3 agreement as provided in this subchapter.
(4)“Public-private partnership” or “P3” means an alternative project delivery mechanism that may be used by the Agency to permit private sector participation in a project, including in its financing, development, operation, management, ownership, leasing, or maintenance. As used in this subchapter, “partnership” shall refer solely to a “public-private partnership” and “partner” shall refer to the State or to the private entity participant or participants in a public-private partnership.
(5)“P3 agreement” means a contract or other agreement between the Agency and a private entity to undertake a project as a public-private partnership and that sets forth rights and obligations of the Agency and the private entity in that partnership. (Added 2017, No. 158 (Adj. Sess.), § 20, eff. May 21, 2018; amended 2019, No. 59, § 24; repealed on July 1, 2026 by 2017, No. 158 (Adj. Sess.), § 21, as amended by 2023, No. 62, § 41.)