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2011 SESSION
SB 1126 Public Procurement Act; transportation-related construction projects.
Introduced by: Walter A. Stosch | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Virginia Public Procurement Act; transportation-related construction projects. Provides for the duration of contract terms for environmental location, design and inspection work to one initial term of two years and clarifies that the sum of all projects in a one-year term may not exceed $5 million. The bill also provides for the Commonwealth Transportation Commissioner to appoint a committee to review performance and payment bonding requirements for construction projects. The committee shall make recommendations regarding any changes to such performance and payment bonding requirements to the Commissioner by December 1, 2011.
SUMMARY AS INTRODUCED:
Virginia Public Procurement Act; transportation-related construction projects. Provides for the duration of contract terms for environmental location, design and inspection work to one initial term of two years and clarifies that the sum of all projects in a one-year term may not exceed $5 million. The bill also increases the threshold for transportation-related contracts requiring performance and payment bonds from $250,000 to $500,000.