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2000 SESSION
SB 626 Procurement Act; thresholds for small purchases and contracts.
Introduced by: Walter A. Stosch | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
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.
SUMMARY AS PASSED SENATE:
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.
SUMMARY AS INTRODUCED:
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. As a result, a public body may procure goods and services under this amount without competitive sealed bidding or competitive negotiation. 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.