Notwithstanding any other provision of law, any county, town, or city that is authorized to and has established affordable housing programs may provide by resolution that in determining the award of any contract for time deposits or investment of its funds, the treasurer or director of finance of such county, town, or city may consider, in addition to the typical criteria, the investment activities of qualifying institutions that enhance the supply of, or accessibility to, affordable housing within the jurisdiction, including the accessibility of such housing to employees of the county, town, or city or employees of the local school board. No more than 50 percent of the funds of the county, town, or city, calculated on the basis of the average daily balance of the general fund during the previous fiscal year, may be deposited or invested by considering such investment activities as a factor in the award of a contract. A qualifying institution shall meet the provisions of the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.) and all local terms and conditions for security, liquidity and rate of return.
For the purposes of this section, affordable housing means the same as that term is defined in § 15.2-2201.
1993, c. 937, § 11-47.3; 1995, c. 206; 1997, c. 176; 1999, c. 708; 2001, c. 844; 2007, c. 681.
Structure Code of Virginia
Title 2.2 - Administration of Government
Chapter 43 - Virginia Public Procurement Act
§ 2.2-4300. Short title; purpose; declaration of intent
§ 2.2-4302.1. Process for competitive sealed bidding
§ 2.2-4302.2. Process for competitive negotiation
§ 2.2-4303. (Effective until July 1, 2023) Methods of procurement
§ 2.2-4303. (Effective July 1, 2023) Methods of procurement
§ 2.2-4303.01. High-risk contracts; definition; review
§ 2.2-4303.1. Architectural and professional engineering term contracting; limitations
§ 2.2-4303.2. Job order contracting; limitations
§ 2.2-4304. Joint and cooperative procurement
§ 2.2-4305. Competitive procurement by localities on state-aid projects
§ 2.2-4308.1. Purchase of owner-controlled insurance in construction projects
§ 2.2-4309. Modification of the contract
§ 2.2-4310.1. Awards as a result of any authorized enhancement or remedial measure; requirements
§ 2.2-4310.2. Executive branch agency's goals for participation by small businesses; requirements
§ 2.2-4310.3. Fiscal data pertaining to certain enhancement or remedial measures
§ 2.2-4311. Employment discrimination by contractor prohibited; required contract provisions
§ 2.2-4312. Drug-free workplace to be maintained by contractor; required contract provisions
§ 2.2-4313. Petition for recycled goods and products; periodic review of procurement standards
§ 2.2-4315. Use of brand names
§ 2.2-4316. Comments concerning specifications
§ 2.2-4317. Prequalification generally; prequalification for construction
§ 2.2-4318. Negotiation with lowest responsible bidder
§ 2.2-4319. Cancellation, rejection of bids; waiver of informalities
§ 2.2-4320. Exclusion of insurance bids prohibited
§ 2.2-4321.2. Public works contracts; project labor agreements authorized
§ 2.2-4321.3. Payment of prevailing wage for work performed on public works contracts; penalty
§ 2.2-4322. Acceptance of bids submitted to the Department of Transportation
§ 2.2-4323. Purchase programs for recycled goods; agency responsibilities
§ 2.2-4323.1. Purchase of flags of the United States and the Commonwealth by public bodies
§ 2.2-4324. Preference for Virginia products with recycled content and for Virginia firms
§ 2.2-4325. Preference for Virginia coal used in state facilities
§ 2.2-4326. Preference for recycled paper and paper products used by state agencies
§ 2.2-4327. Preference for community reinvestment activities in contracts for investment of funds
§ 2.2-4328. Preference for local products and firms; applicability
§ 2.2-4328.1. Preference for energy-efficient and water-efficient goods
§ 2.2-4328.2. Purchase of personal protective equipment by state agencies
§ 2.2-4329.1. Energy forward pricing mechanisms
§ 2.2-4330. Withdrawal of bid due to error
§ 2.2-4331. Contract pricing arrangements
§ 2.2-4332. Workers' compensation requirements for construction contractors and subcontractors
§ 2.2-4333. Retainage on construction contracts
§ 2.2-4336. Bid bonds; construction contracts
§ 2.2-4337. Performance and payment bonds
§ 2.2-4338. Alternative forms of security
§ 2.2-4339. Bonds on other than construction contracts
§ 2.2-4340. Action on performance bond
§ 2.2-4340.1. Statute of limitations on construction contracts
§ 2.2-4340.2. Statute of limitations on architectural and engineering contracts
§ 2.2-4341. Actions on payment bonds; waiver of right to sue
§ 2.2-4342. Public inspection of certain records
§ 2.2-4343. Exemption from operation of chapter for certain transactions
§ 2.2-4343.1. Permitted contracts with certain religious organizations; purpose; limitations
§ 2.2-4344. Exemptions from competition for certain transactions
§ 2.2-4346. Other exemptions for certain transactions
§ 2.2-4349. Retainage to remain valid
§ 2.2-4350. Prompt payment of bills by state agencies
§ 2.2-4350.1. Prohibition on payment without an appropriation; prohibition on IOUs
§ 2.2-4351. Defect or impropriety in the invoice or goods and/or services received
§ 2.2-4352. Prompt payment of bills by localities
§ 2.2-4353. Date of postmark deemed to be date payment is made
§ 2.2-4354. (Effective until January 1, 2023) Payment clauses to be included in contracts
§ 2.2-4354. (Effective January 1, 2023) Payment clauses to be included in contracts
§ 2.2-4355. Interest penalty; exceptions
§ 2.2-4356. Comptroller to file annual report
§ 2.2-4358. Appeal of denial of withdrawal of bid
§ 2.2-4359. Determination of nonresponsibility
§ 2.2-4360. Protest of award or decision to award
§ 2.2-4361. Effect of appeal upon contract
§ 2.2-4362. Stay of award during protest
§ 2.2-4363. Contractual disputes
§ 2.2-4365. Administrative appeals procedure
§ 2.2-4366. Alternative dispute resolution
§ 2.2-4369. Proscribed participation by public employees in procurement transactions
§ 2.2-4370. Disclosure of subsequent employment
§ 2.2-4373. Participation in bid preparation; limitation on submitting bid for same procurement
§ 2.2-4374. Purchase of building materials, etc., from architect or engineer prohibited
§ 2.2-4375. Certification of compliance required; penalty for false statements
§ 2.2-4376. Misrepresentations prohibited
§ 2.2-4376.1. Contributions and gifts; prohibition during procurement process