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1997 SESSION

973427412
HOUSE BILL NO. 2438
Offered January 20, 1997
A BILL to amend the Code of Virginia by adding a section numbered 2.1-20.01:3, relating to the agency director's authority to enter into public-private partnerships.
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Patrons-- Purkey, Howell and Rollison
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Referred to Committee on General Laws
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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 2.1-20.01:3 as follows:

§ 2.1-20.01:3. Executive branch public-private partnerships.

A. The agency director of each executive branch agency is hereby authorized through the Department of General Services and in accordance with the Virginia Public Procurement Act (§ 11-35 et seq.) to enter into public-private partnership contracts to finance agency needs. The agency director may issue a request for information to seek out potential private partners interested in providing programs pursuant to an agreement under this section.

B. Through competitive bidding, the agency director may enter into contracts with private partners upon negotiated terms. Prior to entering into such contracts, the agency director shall adopt, by policy or regulation, alternative policies and procedures which are based on competitive principles and which are generally applicable to procurement of goods and services by the Department. The compensation for such services shall be computed with reference to and paid from the increased revenue attributable to the successful implementation of the program for the period specified in the contract.

C. An external oversight group including, but not limited to, the State Comptroller, the Director of the Department of Planning and Budget, the State Internal Auditor, one representative appointed by the President pro tempore of the Senate, and one representative appointed by the Speaker of the House, shall be responsible for reviewing and approving the terms of contracts under this section relating to the measurement of the revenue attributable to the program. The agency director shall prepare an annual report, due January 1, to the Governor and the General Assembly on all agreements under this section, describing each program, its progress, revenue impact, and such other information as may be relevant.

D. The agency director shall determine annually the total amount of increased revenue attributable to the successful implementation of a program under this section and such amount shall be deposited in a special fund known as the Public-Private Partnership Fund ("the Fund"). The agency director is authorized to use moneys deposited in the Fund to pay private partners pursuant to the terms of contracts under this section. All moneys in excess of that required to be paid to private partners, as determined by the Department, shall be reported to the Comptroller and transferred to the general fund.