Delaware General Assembly


CHAPTER 164

FORMERLY

HOUSE BILL NO. 239

AN ACT TO AMEND CHAPTER 20, TITLE 2, DELAWARE CODE, RELATING TO THE PUBLIC-PRIVATE INITIATIVES PROGRAM.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :

Section 1. amend Section 2003, of Title 2, of the Delaware Code by deleting the phrase “shall constitute not less than 51% of the total projected capital cost for each demonstration project” appearing in subsection (g) thereof, and inserting in lieu thereof the following:

“participation in the total capital cost for each demonstration project shall be negotiated with the other terms of the agreement. Notwithstanding other provisions of this chapter, the amount of such participation shall be taken into account in determining the negotiated rate of return on the investment in the project. In addition, the projected total percentage of public capital investment, as well as the limits of the Department’s financial liability for the project, shall be expressly disclosed in the agreement.”

Section 2. Amend Section 2004, Title 2, Delaware Code by inserting the phrase “or subsection (c)” between the phrase “subsection (b)” and the phrase “of this section” appearing in the first sentence thereof, and by creating a new subsection “(c)” thereof, to read as follows:

“(c) An agreement for a demonstration project in which the state does not assume ownership or control of the underlying real property involved in the project may be approved, subject to the following limitations:

(1) Compliance with all other provisions of subsection (a) of this section shall nonetheless be required;

(2) The negotiations on the rate of return to the contracting party during the term of the agreement shall take this reduced ownership/control factor into account; and

(3) All expenses relating to the indemnification of the owner of any such real property must be borne by the contracting party, notwithstanding the provisions of Section 2008 of this title.”

Approved July 16,1999