Va. Public Procurement Act; methods of procurement, competitive sealed bids negotiation exemption.

Virginia Public Procurement Act; contract formation and administration; methods of procurement; competitive sealed bids or negotiation exemption. Establishes that any public body that has adopted purchase procedures not requiring competitive sealed bids or competitive negotiation for certain contracts shall, through such procedures, allow for purchases from a supplier of goods and services other than professional services to be procured under such procedures when the aggregate value of the purchases exceeds the thresholds established by law or by the public body, if such supplier provides documentation to the public body certifying it has fewer than 25 employees and annual gross receipts not exceeding $3 million.