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HB1308 • 2026

Virginia Public Procurement Act; adds to definition of professional services.

An Act to amend and reenact § 2.2-4301 of the Code of Virginia, relating to Virginia Public Procurement Act; definitions; "professional services."

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Pope Adams
Last action
2026-04-06
Official status
Acts of Assembly Chapter
Effective date
Not listed

Plain English Breakdown

The official source material does not provide specific criteria for advisors to qualify as 'professional services'.

Virginia Public Procurement Act; Adds to Definition of Professional Services

This act changes the definition of professional services in Virginia's Public Procurement Act by including licensed investment advisors, financial advisors, and insurance brokers procured by the Department of the Treasury.

What This Bill Does

  • Changes the definition of 'professional services' to include licensed investment advisors, financial advisors, and insurance brokers when these are procured by the Department of the Treasury.

Who It Names or Affects

  • The Department of the Treasury
  • Licensed investment advisors, financial advisors, and insurance brokers who work with the state

Terms To Know

Professional services
Services provided by independent contractors within specific fields such as accounting, law, medicine, or now including licensed financial advisors and insurance brokers.
Public body
Any government agency or organization that can undertake activities described in the Virginia Public Procurement Act.

Limits and Unknowns

  • The act does not specify how these changes will be implemented beyond defining them.
  • It is unclear if other departments besides the Department of the Treasury will adopt similar definitions for professional services.

Bill History

  1. 2026-04-06 Governor

    Approved by Governor-Chapter 291 (effective 7/1/2026)

  2. 2026-04-06 Governor

    Approved by Governor-Chapter 291 (effective 7/1/2026)

  3. 2026-04-06 Governor

    Acts of Assembly Chapter text (CHAP0291)

  4. 2026-03-10 House

    Enrolled Bill communicated to Governor on March 10, 2026

  5. 2026-03-10 Governor

    Governor's Action Deadline 11:59 p.m., April 13, 2026

  6. 2026-02-25 House

    Signed by Speaker

  7. 2026-02-25 Senate

    Signed by President

  8. 2026-02-25 House

    Enrolled

  9. 2026-02-25 House

    Bill text as passed House and Senate (HB1308ER)

  10. 2026-02-25 House

    Fiscal Impact Statement from Department of Planning and Budget (HB1308)

  11. 2026-02-23 Senate

    Read third time

  12. 2026-02-23 Senate

    Passed Senate Block Vote (38-Y 0-N 0-A)

  13. 2026-02-20 Senate

    Rules suspended

  14. 2026-02-20 Senate

    Rules suspended

  15. 2026-02-20 Senate

    Passed by for the day

  16. 2026-02-20 Senate

    Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

  17. 2026-02-20 Senate

    Passed by for the day Block Vote (Voice Vote)

  18. 2026-02-18 General Laws and Technology

    Reported from General Laws and Technology (14-Y 0-N)

  19. 2026-02-05 Senate

    Constitutional reading dispensed (on 1st reading)

  20. 2026-02-05 General Laws and Technology

    Referred to Committee on General Laws and Technology

  21. 2026-02-04 House

    Read third time and passed House Block Vote (97-Y 1-N 0-A)

  22. 2026-02-04 House

    Reconsideration of passage agreed to by House

  23. 2026-02-04 House

    Passed House Block Vote (98-Y 0-N 0-A)

  24. 2026-02-03 House

    Read second time and engrossed

  25. 2026-02-02 House

    Read first time

  26. 2026-01-29 General Laws

    Reported from General Laws (21-Y 0-N)

  27. 2026-01-27 Procurement/Open Government

    Subcommittee recommends reporting (10-Y 0-N)

  28. 2026-01-27 House

    Fiscal Impact Statement from Department of Planning and Budget (HB1308)

  29. 2026-01-26 Procurement/Open Government

    Assigned HGL sub: Procurement/Open Government

  30. 2026-01-16 House

    Presented and ordered printed 26104925D

  31. 2026-01-16 General Laws

    Referred to Committee on General Laws

Official Summary Text

Virginia Public Procurement Act; definitions; "professional services."
Adds to the definition of "professional services," for use throughout the Virginia Public Procurement Act, services of a licensed investment advisor, financial advisor, or insurance broker procured by the Department of the Treasury.

Current Bill Text

Read the full stored bill text
An Act to amend and reenact §
2.2-4301
of the Code of Virginia, relating to Virginia Public Procurement Act; definitions; "professional services."
Be it enacted by the General Assembly of Virginia:
1. That §
2.2-4301
of the Code of Virginia is amended and reenacted as follows:
§
2.2-4301
. Definitions.
As used in this chapter:
"Affiliate" means an individual or business that controls, is controlled by, or is under common control with another individual or business. A person controls an entity if the person owns, directly or indirectly, more than 10 percent of the voting securities of the entity. For the purposes of this definition "voting security" means a security that (i) confers upon the holder the right to vote for the election of members of the board of directors or similar governing body of the business or (ii) is convertible into, or entitles the holder to receive, upon its exercise, a security that confers such a right to vote. A general partnership interest shall be deemed to be a voting security.
"Best value," as predetermined in the solicitation, means the overall combination of quality, price, and various elements of required services that in total are optimal relative to a public body's needs.
"Business" means any type of corporation, partnership, limited liability company, association, or sole proprietorship operated for profit.
"Competitive negotiation" is the method of contractor selection set forth in §
2.2-4302.2
.
"Competitive sealed bidding" is the method of contractor selection set forth in §
2.2-4302.1
.
"Construction" means building, altering, repairing, improving
,
or demolishing any structure, building
,
or highway, and any draining, dredging, excavation, grading
,
or similar work upon real property.
"Construction management contract" means the same as that term is defined in §
2.2-4379
.
"Design-build contract" means the same as that term is defined in §
2.2-4379
.
"Employment services organization" means an organization that provides employment services to individuals with disabilities that is an approved Commission on the Accreditation of Rehabilitation Facilities (CARF) accredited vendor of the Department for Aging and Rehabilitative Services.
"Goods" means all material, equipment, supplies, printing, and automated data processing hardware and software.
"Informality" means a minor defect or variation of a bid or proposal from the exact requirements of the Invitation to Bid, or the Request for Proposal, which does not affect the price, quality, quantity
,
or delivery schedule for the goods, services
,
or construction being procured.
"Job order contracting" means a method of procuring construction by establishing a book of unit prices and then obtaining a contractor to perform work as needed using the prices, quantities, and specifications in the book as the basis of its pricing. The contractor may be selected through either competitive sealed bidding or competitive negotiation depending on the needs of the public body procuring the construction services. A minimum amount of work may be specified in the contract. The contract term and the project amount shall not exceed the limitations specified in §
2.2-4303.2
.
"Multiphase professional services contract" means a contract for the providing of professional services where the total scope of work of the second or subsequent phase of the contract cannot be specified without the results of the first or prior phase of the contract.
"Nonprofessional services" means any services not specifically identified as professional services in the definition of professional services.
"Potential bidder or offeror," for the purposes of §§
2.2-4360
and
2.2-4364
, means a person who, at the time a public body negotiates and awards or proposes to award a contract, is engaged in the sale or lease of goods, or the sale of services, insurance
,
or construction, of the type to be procured under the contract, and who at such time is eligible and qualified in all respects to perform that contract, and who would have been eligible and qualified to submit a bid or proposal had the contract been procured through competitive sealed bidding or competitive negotiation.
"Professional services" means work performed by an independent contractor within the scope of the practice of accounting, actuarial services, architecture, land surveying, landscape architecture, law, dentistry, medicine, optometry, pharmacy
,
or professional engineering. "Professional services"
shall
also
include
includes
the services of
an
any (i)
economist procured by the State Corporation Commission
and (ii) licensed investment advisor, financial advisor, or insurance broker procured by the Department of the Treasury
.
"Public body" means any legislative, executive
,
or judicial body, agency, office, department, authority, post, commission, committee, institution, board
,
or political subdivision created by law to exercise some sovereign power or to perform some governmental duty, and empowered by law to undertake the activities described in this chapter. "Public body" shall include (i) any independent agency of the Commonwealth, and (ii) any metropolitan planning organization or planning district commission which operates exclusively within the Commonwealth
of Virginia
.
"Public contract" means an agreement between a public body and a nongovernmental source that is enforceable in a court of law.
"Responsible bidder" or "offeror" means a person who has the capability, in all respects, to perform fully the contract requirements and the moral and business integrity and reliability that will assure good faith performance, and who has been prequalified, if required.
"Responsive bidder" means a person who has submitted a bid that conforms in all material respects to the Invitation to Bid.
"Reverse auctioning" means a procurement method wherein bidders are invited to bid on specified goods or nonprofessional services through real-time electronic bidding, with the award being made to the lowest responsive and responsible bidder. During the bidding process, bidders' prices are revealed and bidders shall have the opportunity to modify their bid prices for the duration of the time period established for bid opening.
"Services" means any work performed by an independent contractor wherein the service rendered does not consist primarily of acquisition of equipment or materials, or the rental of equipment, materials
,
and supplies.