Amends the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration (SBA) to guarantee a surety against any loss resulting from the breach of a bid bond, payment bond, performance bond, or bonds ancillary thereto, by a principal on any work order or contract amount up to $5 million (under current law, up to $2 million). Requires the Administrator to reimburse such a surety unless the total contract exceeds such increased amount.
Committee on Small Business and Entrepreneurship. Hearings held.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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