Time is running out on a $12.8 billion proposal to lease the Pennsylvania Turnpike for 75 years as the measure continues to stall in committee and could fail to receive a formal vote before the legislature's two-year session ends on Dec. 31.

The concession agreement would allow the state to lease the 530-mile Turnpike to Citi and Abertis Infraestructuras, a joint consortium, in a public-private partnership. In return for the management rights, the state would gain the $12.8 billion upfront payment and Citi/Abertis would also finance the Turnpike's $5.5 billion, 10-year capital program.

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