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2000 SESSION

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SB 626 Procurement Act; thresholds for small purchases and contracts.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Public Procurement Act; thresholds for small purchases and contract modifications. Increases from $30,000 to $50,000 the threshold for small purchases of goods and services other than professional services. As a result, a public body may procure such goods and services under this amount without competitive sealed bidding or competitive negotiation except that purchases expected to exceed $30,000 require written informal solicitations of a minimum of four bidders or offerors. The bill also increases from $10,000 to $50,000 the threshold for modification of fixed-price contracts without the approval of the Governor or his designee.


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