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2017 SESSION

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HB 2017 Virginia Public Procurement Act; bid, performance, and payment bonds, waiver by localities.

Introduced by: Ronald A. Villanueva | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

Virginia Public Procurement Act; bid, performance, and payment bonds; waiver by localities. Authorizes a locality, where the bid, performance, and payment bond requirements are waived, to waive the requirement for prequalification for a bidder or contractor with a current Class A contractor license for nontransportation-related construction contracts in excess of $100,000 but less than $300,000 upon a written determination made in advance by the local governing body that waiving the requirement is in the best interests of the locality. The bill prohibits localities from entering into more than 10 such contracts per year in which the bidder or contractor's prequalification requirement has been waived. The bill contains technical amendments.

SUMMARY AS PASSED:

Virginia Public Procurement Act; bid, performance, and payment bonds; waiver by localities. Authorizes a locality to waive bid bonds for nontransportation-related construction contracts in excess of $100,000 but less than $500,000, and performance and payment bonds for nontransportation-related construction contracts in excess of $100,000 but less than $300,000, without having to undertake a prequalification process for bidders with a current Class A contractor license. The bill prohibits localities from entering into more than 10 nontransportation-related construction contracts per year in which either the bid bond or the performance and payment bonds and the prequalification requirement have been waived and in which the contract amount is in excess of $100,000 but less than $300,000. The bill contains technical amendments. The bill has an expiration date of July 1, 2021.

SUMMARY AS PASSED HOUSE:

Virginia Public Procurement Act; bid, performance, and payment bonds; waiver by localities. Authorizes a locality to waive bid, performance, and pay bonds for nontransportation-related construction contracts in excess of $100,000 but less than $500,000 without having to undertake a prequalification process for bidders with a current Class A contractor license. The bill prohibits localities from entering into more than 10 such contracts per year in which the bidder's prequalification requirement has been waived. The bill contains technical amendments.

SUMMARY AS INTRODUCED:

Virginia Public Procurement Act; bid, performance, and payment bonds; waiver by localities. Authorizes a locality to waive bid, performance, and pay bonding for nontransportation-related construction contracts in excess of $100,000 but less than $500,000 without having to undertake a prequalification process. The bill contains technical amendments.