A bill to amend the act of August 24, 1935 (commonly referred to as the "Miller Act") to provide for additional protection to persons supplying labor and material in the prosecution of work provided for in contracts for the construction, alteration, or repair of any public building or public work of the United States, and for other purposes.

Requires, under the Act of August 24, 1935 (the "Miller Act'), persons contracting with the United States for public buildings or works projects to furnish a payment bond in an amount and with surety or sureties satisfactory to the Federal officer awarding such contract for the protection of all persons supplying labor and materials for such project. Removes provisions of the Miller Act setting percentage requirements on the amount of such bonds.