Treasurer backs bill letting Treasury treat financial advisers as "professional services" Senators advanced House Bill 1308 to let the Virginia Department of the Treasury treat investment advisers and insurance brokers as professional services under the Virginia Public Procurement Act, a change Treasurer Dave Richardson said would help the state secure experienced vendors for large portfolios.

Virginia's Treasurer is pushing for a bill that would redefine financial advisers as "professional services," aiming to secure top-tier expertise for managing $45 billion in taxpayer funds.

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Votes at a glance: subcommittee actions on FOIA, procurement and related bills At its hearing the subcommittee took a mix of procedural and final actions: bills were stricken, continued, reported (some with substitutes) and several passed unanimously; notable outcomes include HB 709/HB 1239 stricken (8–0), HB 346 passed (8–0), HB 1308 reported unanimously and various bills continued to 2027 with letters to FOIA Council.

Virginia's Subcommittee on Procurement and Open Government just wrapped up a significant meeting with unanimous votes on key bills aimed at protecting public information and minors' privacy!

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