2006 Code of Virginia § 2.2-1131.1 - Establishment of performance standards for the use of property

2.2-1131.1. Establishment of performance standards for the use of property.

A. The Division shall establish performance standards for the acquisition,lease and disposition of property and for the management and utilization ofsuch property at the individual agency and statewide levels to maximize theuse of property for which it is held. For the purposes of this section"property" means the same as that term is defined in 2.2-1147.

B. The head of each state agency or institution shall ensure that propertyassets held by the agency on behalf of the Commonwealth are managed inaccordance with the standards set by the Division. State public institutionsof higher education that have delegated authority to manage aspects of theirreal property usage and have signed a memorandum of understanding with theSecretary of Administration related to such delegated authority shall bedeemed in compliance with the standards set by the Division as long as theyabide by the terms of the memorandum of understanding. Standards establishedin accordance with the memorandum of understanding shall be reported to theDivision by October 1 of each year.

C. The Division may take appropriate actions, including assuring compliancewith the standards set by the Division and entering into leasing arrangementsor other contracts, to ensure that asset usage by each state agency is properand cost effective.

D. By December 1, 2004, the Division shall submit a report to the Governorand the General Assembly on the performance standards established pursuant tosubsection A. Thereafter, the Division shall prepare, no later than November30 of each year, reports to the Governor and the General Assembly on theimplementation and effectiveness of this program.

(2004, cc. 684, 750.)

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