Public Procurement Act; contractors responsibility for performance and payment bonds. (HB1259)
Introduced By
Del. Bill Janis (R-Glen Allen)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Virginia Public Procurement Act; performance and payment bonds. Adds a provision that for the award of any construction contract exceeding $100,000 in which the performance of labor or the furnishing of materials will be paid with public funds, the contractor must furnish to the public body performance and payment bonds. In addition, the bill provides that performance and payment bonds are required for construction contracts exceeding $100,000 awarded to any prime contractor requiring the performance of labor or the furnishing of materials for buildings, structures, or other improvements to real property leased by a public body. Amends § 2.2-4337 (“Performance and payment bonds.”), of the Code of Virginia. View Full Text »
Status
04/05/2006: signed by governor
View Bill's History
