To provide additional authority to the Administrator of the Small Business Administration with respect to disaster surety bonds.
Disaster Surety Bond Enhancement Act of 2007 - Permits the Administrator of the Small Business Administration (SBA), for any federal procurement related to a major disaster, to prescribe, guarantee, and enter into commitments to guarantee any surety against loss resulting from the breach of a bond by a principal on any total work order or contract amount that does not exceed $5 million at the time of bond execution. Allows the Administrator to increase such maximum amount to $10 million upon request of the head of any federal agency other than the SBA.
Makes this Act retroactive to any major disaster relating to Hurricanes Katrina, Rita, or Wilma.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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