Public Procurement Act; bid match preference for State businesses. (SB79)

Introduced By

Sen. John Watkins (R-Midlothian)

Description

Virginia Public Procurement Act; bid match preference for Virginia businesses.  Provides a bid match preference for Virginia business. Under the bill, a Virginia business has an opportunity to match the lowest bid of an out-of-state bidder if the bid of a Virginia business is within five percent or $10,000 of the lowest bid of an out-of-state bidder, whichever is less. The bill also provides that to be deemed a resident of Virginia, a Virginia person, firm, or corporation must have paid unemployment taxes or income taxes in Virginia in addition to being organized pursuant to Virginia law or maintaining a principal place of business within Virginia. Read the Bill »

Status

01/30/2012: Failed to Pass in Committee

History