SB 651 - Partnership for Public Facilities and Infrastructure Act

• Creates the "Partnership for Public Facilities and Infrastructure Act" to authorize public-private partnerships for developing public facilities and infrastructure including ferries, transit facilities, power generation, water treatment, hospitals, schools, toll roads, and similar projects.

• Establishes a procurement process where responsible public entities issue requests for proposals, select qualified private entities, and negotiate interim and comprehensive agreements without using competitive bidding.

• Requires responsible public entities to seek advice from the Arkansas Economic Development Commission and Arkansas Development Finance Authority before issuing requests for proposals.

• Allows qualifying projects to be financed through multiple sources including debt, equity, grants, tax incentives, and private capital; bonds issued by public entities under this chapter do not pledge the state's full faith and credit.

• Mandates the Arkansas Economic Development Commission and Arkansas Development Finance Authority to promulgate rules within 90 days including criteria for project selection, proposal evaluation timelines, financing guidelines, and value-for-money analysis requirements.

• Excludes Arkansas State Highway and Transportation Department projects from the act and preserves public entities' sovereign immunity while maintaining Freedom of Information Act compliance.