Bill Text: VA HB724 | 2018 | Regular Session | Prefiled
Bill Title: Virginia Public Procurement Act; amends prompt payment provisions, etc.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced - Dead) 2018-02-13 - Left in General Laws [HB724 Detail]
Download: Virginia-2018-HB724-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. That §2.2-4347 of the Code of Virginia is amended and reenacted as follows:
§2.2-4347. Definitions.
As used in this article, unless the context requires a different meaning:
"Contractor" means the entity that has a direct contract with any "state agency" as defined herein, or any agency of local government as discussed in §2.2-4352.
"Debtor" means any individual, business, or group having a delinquent debt or account with any state agency for which that obligation has not been satisfied or set aside by court order or discharged in bankruptcy.
"Payment date" means either (i) the date on which
payment is due under the terms of a contract for provision of goods or
services; or (ii) if such date has not been established by contract, (a) thirty 15
days after receipt of a proper invoice by the state agency or its agent or forty-five 45
days after receipt by the local government or its agent responsible under the
contract for approval of such invoices for the amount of payment due, or (b) thirty 15
days after receipt of the goods or services by the state agency or forty-five 45
days after receipt by the local government, whichever is later.
"State agency" means any authority, board, department, instrumentality, institution, agency, or other unit of state government. The term shall not include any county, city or town, or any local or regional governmental authority.
"Subcontractor" means any entity that has a contract to supply labor or materials to the contractor to whom the contract was awarded or to any subcontractor in the performance of the work provided for in such contract.
