H.R. 688 · 112th Congress
Department of Transportation Bonding Assistance Authority Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
5 cosponsors · 5 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Department of Transportation Bonding Assistance Authority Act of 2011 - Replaces the mandate for the Minority Resource Center to provide bonding assistance to disadvantaged business enterprises.
What it does: CRS summary · Introduced in House · Feb 14, 2011
Department of Transportation Bonding Assistance Authority Act of 2011 - Replaces the mandate for the Minority Resource Center to provide bonding assistance to disadvantaged business enterprises.
Authorizes the Secretary of Transportation, acting through the Minority Resource Center, to prescribe, guarantee, and enter into commitments to guarantee a surety against loss resulting from a small business concern's breach of a bond that is required for it to bid on or perform a transportation project contract, pay on the contract, or serve as a prime contractor or subcontractor on such contract.
Authorizes the Secretary to indemnify such a surety up to 90% of any loss sustained by it in avoiding or attempting to avoid a breach of a bond guaranteed under this Act.
Requires the Secretary to establish a program under which not more than five selected states may carry out: (1) the activities of the Secretary with respect to issuing surety guarantees, as well as (2) the activities of sureties to assist eligible small business concerns.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Department of Transportation Bonding Assistance Authority Act of 2011
Latest action (Feb 15, 2011): Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Policy area: Transportation and Public Works · Origin: House · Introduced: Feb 14, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.