Article 174. Concept.

1. The public-private partnership is an economic operation in which the following characteristics jointly occur: a) a long-term contractual relationship is established between a granting body and one or more private economic operators to achieve a result of public interest; b) the coverage of the financial needs connected to the implementation of the project comes to a significant extent from resources raised by the private party, also due to the operational risk assumed by the same; c) the private party is responsible for implementing and managing the project, while the public party is responsible for defining the objectives and verifying their implementation; d) the operational risk connected to the implementation of the works or the management of the services is allocated by the private entity. 2. By granting body, pursuant to letter a) of paragraph 1, we mean the contracting authorities and the contracting entities referred to in Article 1 of Directive 2014/23/EU of the European Parliament and of Council of 26 February 2014. 3. The contractual public-private partnership includes the figures of concession, financial leasing and availability contract, as well as other contracts stipulated by the public administration with private economic operators which have the contents of referred to in paragraph 1 and are aimed at realizing interests worthy of protection. The assignment and execution of the related contracts are governed by the provisions of Titles II, III and IV of Part II. The methods of allocating operational risk, the duration of the public-private partnership contract, the methods of determining the threshold and the methods of calculating the estimated value are governed by articles 177, 178 and 179. 4. The public-private partnership of institutional type is achieved through the creation of an entity jointly participated by the private and public parties and is governed by the consolidated law on publicly held companies, referred to in Legislative Decree 19 August 2016, n. 175, and other special sector regulations. 5. Public-private partnership contracts can only be stipulated by qualified granting bodies pursuant to article 63. EFFECTIVE FROM: 1 July 2023