Security in Bonding Act of 2014 - Amends the Small Business Investment Act of 1958 with respect to any Small Business Administration (SBA) guarantee or agreement to indemnify a surety under the Small Business Investment Program against loss from a breach of the terms of a bid bond, payment bond, performance bond, or ancillary bonds, by a principal on any total work order or contract amount at the time of bond execution that does not exceed $6.5 million, as adjusted for inflation.
Increases from 70% to 90% of the loss incurred and paid by a surety authorized to issue bonds (subject to SBA guarantee) the SBA's maximum obligation to pay the surety under the guarantee or agreement to indemnify.
Introduced in House
Introduced in House
Referred to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Committee Consideration and Mark-up Session Held.
Further action deferred.
Subcommittee on Regulatory Reform, Commercial And Antitrust Law Discharged.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Judiciary. H. Rept. 113-462, Part I.
Reported (Amended) by the Committee on Judiciary. H. Rept. 113-462, Part I.
Reported (Amended) by the Committee on Small Business. H. Rept. 113-462, Part II.
Reported (Amended) by the Committee on Small Business. H. Rept. 113-462, Part II.
Placed on the Union Calendar, Calendar No. 342.
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