Except as provided in subparagraph (ii) of this paragraph, a reporting agency may not issue a public notice of solicitation for a public–private partnership until a presolicitation report concerning the proposed public–private partnership is submitted to the Comptroller, the State Treasurer, the budget committees, and the Department of Legislative Services, in accordance with § 2–1257 of the State Government Article. A reporting agency may not issue a public notice of solicitation for a public–private partnership for a transportation facilities project, as defined in § 4–101(h) of the Transportation Article, until a presolicitation report concerning the proposed public–private partnership is submitted to the budget committees and the Department of Legislative Services, in accordance with § 2–1257 of the State Government Article. The budget committees may not have more than 45 days to review and comment on the presolicitation report submitted in accordance with paragraph (1) of this subsection. If the total value of a proposed public–private partnership reported in the presolicitation report under paragraph (b)(1) of this subsection exceeds $500,000,000, the budget committees may request an additional 15 days to review and comment on the presolicitation report. The request for additional time under this subparagraph shall: be made in writing to the Governor, the Department of Budget and Management, and the reporting agency; and include the reason for the request and any preliminary issues the budget committees have. A presolicitation report shall: state the specific policy, operational, and financial reasons for pursuing a public–private partnership; identify the anticipated value of the proposed public–private partnership, risks and benefits to the State, and any potential workforce, economic development, or environmental implications; evaluate, if relevant and to the extent necessary, the risks and benefits of a public–private partnership, including benefits such as expedited asset delivery, cost savings, risk transfer, net new revenue, state–of–the–art techniques for asset development or operations, efficiency of operations, maintenance via innovative management techniques, and expertise in accessing and organizing the widest range of financial resources; include, if relevant and to the extent possible, the following information prepared by the reporting agency, in consultation with the Department of Budget and Management: a preliminary analysis on debt affordability; a preliminary summary of the proposed solicitation process; and a statement of intention to use the exemption from the requirements of Division II of this article set forth in § 11–203 of this article; withhold information deemed confidential, proprietary, or otherwise exempt from disclosure under applicable law, in accordance with § 4–335 of the General Provisions Article, relating to: confidential commercial information; confidential financial information; and trade secrets; and be posted online by the reporting agency during the review period in accordance with paragraph (2) of this subsection. The online location of the presolicitation report shall be: on the website of the reporting agency; or on the website of the specific project if one has been established. The reporting agency shall include in the Maryland Register a brief synopsis of, and a link to, the presolicitation report. After the budget committees’ review and comment period on the presolicitation report and before issuing a public notice of solicitation, a reporting agency shall seek the official designation by the Board of Public Works of the public infrastructure asset as a public–private partnership and approval of the solicitation method. The request for official designation and approval shall: include a copy of the presolicitation report required under subsection (a) of this section; describe the process for soliciting, evaluating, selecting, and awarding the public–private partnership; include a preliminary solicitation schedule; outline the organization and contents of the public notice of solicitation; provide a summary of the key terms of the proposed public–private partnership agreement; and include any other information or requests determined to be relevant by the reporting agency.