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 contract, includingconstruction management and design-build contracts, unless such actionis brought within five years after completion of the work on theproject, and provides that no action may be brought by a public body on a warranty or guaranty in such construction contract more thanone year from the breach of that warranty, but in no event more thanone year after the expiration of such warranty or guaranty. The billalso limits the time frame during which a public body, other thanthe Department of Transportation, may bring an action against a suretyon a performance bond to within one year after completion of thework on the project. Current law allows a public body, other thanthe Department of Transportation, to bring such an action withinone year after (i) completion of the contract, including the expirationof all warranties and guaranties, or (ii) discovery of the defector breach of warranty that gave rise to the action. The bill containstechnical amendments.