Competitive Procurement of VRE Liability Insurance (language only)

Item 274 #1c

Language
Page 280, after line 12, insert:
"C. Notwithstanding the provisions of § 15.2-4518.13 and § 15.2-4526, Code of Virginia, the Northern Virginia Transportation Commission and the Potomac Rappahannock Transportation Commission are authorized to obtain liability policies for the Commissions’ joint project, the Virginia Railway Express, consisting of liability insurance and a program of self-insurance maintained by the Commissions and administered by the Virginia Division of Risk Management or by an independent third party selected by the Commissions, which liability policies shall be deemed to meet the requirements of § 8.01-195.3, Code of Virginia.  In addition, the Director of the Department of Rail and Public Transportation is authorized to work with the Northern Virginia Transportation Commission and the Potomac Rappahannock Transportation Commission to obtain the foregoing liability policies for the Commissions.  In obtaining liability policies, the Director of the Department of Rail and Public Transportation shall advise the Commissions  regarding compliance with all applicable public procurement and administrative guidelines."
Page 280, line 13, strike "C." and insert "D."

Explanation
(This amendment allows the Northern Virginia and Potomac Rappahannock Transportation Commissions, in cooperation with the Department of Rail and Public Transportation, to competitively procure liability insurance from either public or private providers for the Virginia Railway Express.)