(a) It is the public policy of the State to utilize public-private partnerships, if appropriate, to:
(1) develop and strengthen the State’s public infrastructure assets;
(2) apportion between the public and private sectors the risks involved with developing and strengthening public infrastructure assets;
(3) foster the creation of new jobs; and
(4) promote the socioeconomic development and competiveness of Maryland.
(b) It is the public policy of the State that a private entity that enters into a public-private partnership with a reporting agency comply with the Labor and Employment Article and the federal Fair Labor Standards Act.