House File 2612 - Introduced HOUSE FILE 2612 BY UPMEYER A BILL FOR An Act authorizing the state board of regents to approve 1 public-private partnership agreements proposed by the 2 institutions of higher education the state board governs, 3 providing for the establishment of public-private 4 partnership oversight boards, and including retroactive 5 applicability provisions. 6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 7 TLSB 6163YH (4) 88 kh/jh

H.F. 2612 Section 1. NEW SECTION . 262.29 Public-private partnerships 1 —— oversight boards. 2 1. The state board of regents may approve, at its 3 discretion, a proposal to enter into a public-private 4 partnership agreement submitted by an institution of higher 5 education under its control. However, at least thirty days 6 before taking action relating to a proposal to approve a 7 public-private partnership, the state board must submit notice 8 of the proposal and of the state board’s intent to take action 9 on the proposal to the general assembly and the legislative 10 services agency. Agreements approved in accordance with this 11 subsection may continue for the period of time specified in 12 the agreement. However, on or after July 1, 2030, no new 13 public-private partnership agreement shall be approved by the 14 state board of regents or entered into by an institution under 15 its control. For purposes of this section, “public-private 16 partnership” means an agreement between the institution and a 17 private entity to transfer ownership or control of a property 18 that includes compensation and typically involves a long-term 19 contract to renovate, construct, operate, maintain, or manage 20 a facility or system, in whole or in part, that involves 21 remuneration linked to performance. 22 2. For each public-private partnership agreement approved 23 in accordance with subsection 1, the state board of regents 24 shall establish a public-private partnership oversight board 25 to make decisions on the use of the funds generated from the 26 agreement. At least one member of a public-private oversight 27 board shall be a member of the state board of regents. 28 3. The oversight board shall submit to the general assembly 29 quarterly reports that include information on any proposed and 30 approved projects funded using moneys generated by an approved 31 public-private partnership available to the institution and the 32 oversight board; how such funds were preserved, invested, and 33 expended during the previous quarter; the issues and goals the 34 institution and the oversight board are addressing with such 35 -1- LSB 6163YH (4) 88 kh/jh 1/ 3

H.F. 2612 funds; the quantifiable performance measure and indicators the 1 oversight board is using to identify progress toward achieving 2 the oversight board’s investment goals; and the immediate 3 effect and long-term impact of each oversight board proposal 4 for or use of such funds has or is intended to have on student 5 populations and the number of students who are or will be 6 impacted by any such proposal for or use of such funds. 7 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies 8 retroactively to December 1, 2019. 9 EXPLANATION 10 The inclusion of this explanation does not constitute agreement with 11 the explanation’s substance by the members of the general assembly. 12 This bill authorizes the state board of regents to approve, 13 at its discretion, a proposal to enter into a public-private 14 partnership agreement submitted by a university under its 15 control. Once approved, such agreements may continue for 16 the period of time specified in the agreement. The state 17 board must, at least 30 days prior to taking action on such 18 a proposal, provide notice of the proposal and of its intent 19 to take action on the proposal to the general assembly and the 20 legislative services agency. However, no new agreement shall 21 be approved or entered into on or after July 1, 2030. 22 The bill defines public-private partnership to mean an 23 agreement between the institution and a private entity to 24 transfer ownership or control of a property that includes 25 compensation and typically involves a long-term contract to 26 renovate, construct, operate, maintain, or manage a facility or 27 system, in whole or in part, that involves remuneration linked 28 to performance. 29 Each time the state board approves a public-private 30 partnership agreement, it must establish an oversight board 31 to make decisions on the use of the funds generated from the 32 agreement. A member of the state board must serve on each such 33 oversight board. 34 The oversight board shall submit a quarterly report to the 35 -2- LSB 6163YH (4) 88 kh/jh 2/ 3

H.F. 2612 general assembly relating to the proposed and approved use 1 of the moneys generated by the public-private partnership, 2 including how the moneys were preserved, invested, and expended 3 during the previous quarter, and the impact of the board’s 4 decisions on the university’s students. 5 The provision authorizing the state board of regents 6 to approve public-private partnership agreements applies 7 retroactively to December 1, 2019. 8 -3- LSB 6163YH (4) 88 kh/jh 3/ 3