To amend title 31, United States Code, to modernize cash management by allowing the use of certain obligations instead of surety bonds.

Summary

Amends federal law governing surety bonds to repeal the definition of government obligation as a public debt obligation of the U.S. government whose principal and interest is unconditionally guaranteed by the government. Defines as an eligible obligation any security designated by the Secretary of the Treasury as acceptable in lieu of a surety bond. Authorizes the use of an eligible obligation instead of a surety bond if its market value, as determined by the Secretary, is equal to or greater than the amount of the required surety bond.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 July 2006

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 13 July 2006

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 13 July 2006

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.