S. 3835 · 111th Congress
A bill to reinstate the increase in the surety bond guarantee limits for the Small Business Administration.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CardinSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Small Business Investment Act of 1958 to make permanent the increase from $2 million to $5 million in the surety bond guaranty limit of the Small Business Administration (SBA).
What it does: CRS summary · Introduced in Senate · Sep 23, 2010
Amends the Small Business Investment Act of 1958 to make permanent the increase from $2 million to $5 million in the surety bond guaranty limit of the Small Business Administration (SBA).
Relieves the SBA from reimbursing the surety if: (1) the surety obtained such guarantee or agreement, or applied for such reimbursement, by fraud or material misrepresentation; (2) the total contract amount at the time of bond execution exceeds $5 million; (3) the surety has breached a material term or condition of such guarantee agreement; or (4) the surety has substantially violated regulations promulgated by the SBA.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to reinstate the increase in the surety bond guarantee limits for the Small Business Administration.
Latest action (Sep 23, 2010): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Sep 23, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.