(a) Establishment.--There is established a board to be known as the Public-Private Transportation Partnership Board.

(b) Composition.--The board shall be composed of the following members:

(1) The Secretary of Transportation, who shall be the chairperson of the board, or a designee who shall be an employee of the department.

(2) The Secretary of the Budget or a designee who shall be an employee of the Office of the Budget.

(3) Four members appointed by the General Assembly under subsection (c).

(4) One member appointed by the Governor under subsection (d).

(c) Legislative appointments.--

(1) Appointments of members by the General Assembly shall be made as follows:

(i) One individual appointed by the President pro tempore of the Senate.

(ii) One individual appointed by the Minority Leader of the Senate.

(iii) One individual appointed by the Speaker of the House of Representatives.

(iv) One individual appointed by the Minority Leader of the House of Representatives.

(2) Legislative appointees shall be residents of this Commonwealth and serve at the pleasure of the appointing authority.

(3) Legislative appointees shall have expertise or substantial experience in one or more of the following areas:

(i) Transportation.

(ii) Finance.

(iii) Law.

(iv) Land use and public planning.

(d) Gubernatorial appointment.--A member appointed under subsection (b)(4):

(1) May not hold any other position as an elected official or employee of the Commonwealth.

(2) Shall be a resident of this Commonwealth and have expertise or substantial experience in one or more of the following areas:

(i) Transportation.

(ii) Finance.

(iii) Law.

(iv) Land use and public planning.

(3) Shall serve at the pleasure of the Governor.

(e) Quorum.--Four members of the board shall constitute a quorum. The adoption of a resolution or other action of the board shall require a majority vote of the members of the board.

(f) Compensation.--The members of the board shall be entitled to no compensation for their services as members of the board but shall be entitled to reimbursement by the department for all necessary and reasonable expenses incurred in connection with the performance of their duties as members of the board.

(g) Initial appointment and vacancy.--Appointing authorities shall appoint initial board members within 30 days of the effective date of this section. Whenever a vacancy occurs on the board, the appointing authority shall appoint a successor member within 30 days of the vacancy.

(h) Financial interests.--No member of the board, during his term of office, shall directly or indirectly own, have any significant financial interest in, be associated with or receive any fee, commission, compensation or anything of value from any public entity or private entity seeking to engage in a public-private transportation partnership agreement. The provisions of this subsection shall not apply to the salary of a Commonwealth employee.

(i) Applicability.--The following acts shall apply to the board:

(1) The act of February 14, 2008 (P.L.6, No.3), known as the Right-to-Know Law.

(2) The State Adverse Interest Act.

(3) The provisions of 65 Pa.C.S. Chs. 7 (relating to open meetings) and 11 (relating to ethics standards and financial disclosure).

Effective Date. Section 3(1) of Act 88 of 2012 provided that section 9103 shall take effect immediately.