A bill to amend title IV of the Small Business Investment Act of 1958.

Amends the Small Business Investment Act of 1958 to exclude from the definition of the term "surety" as such term is used in connection with guarantees of bid bonds, performance bonds, and payment bonds, the surety's producing agent if the producing agent is an independent contractor. Adds a new definition of the term "guarantee" to signify an undertaking by the Small Business Administration that it will pay the surety a sum not to exceed 90 percent of the loss incurred by the surety.