Virginia Public Procurement Act; statute of limitations on actions on construction contracts.

Virginia Public Procurement Act; statute oflimitations on actions on construction contracts; statute of limitationson actions on performance bonds. Provides that no action maybe brought by a public body on any construction, architectural, orengineering contract, including construction management and design-buildcontracts, unless such action is brought within five years aftercompletion of the work on the project, and provides that no action may be brought by a public body on a warranty or guaranty in suchconstruction contract more than one year from the breach of thatwarranty, but in no event more than one year after the expirationof such warranty or guaranty. The bill also limits the time frameduring which a public body may bring an action against a surety ona performance bond to within one year after completion of the workon the project. Current law allows a public body, other than theDepartment of Transportation, to bring such an action within oneyear after (i) completion of the contract, including the expiration of all warranties and guaranties, or (ii) discovery of the defector breach of warranty that gave rise to the action. The bill contains technical amendments.