A bill to remove the sunset date for amendments to the Small Business Investment Act of 1958, and for other purposes.

Summary

Amends the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration (SBA) to guarantee a surety against any loss resulting from the breach of a bid bond, payment bond, performance bond, or bonds ancillary thereto, by a principal on any work order or contract amount up to $5 million (under current law, up to $2 million). Requires the Administrator to reimburse such a surety unless the total contract exceeds such increased amount.

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

Timeline

1. 12 March 2012

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 12 March 2012

   Introduced

   Read twice and referred to the Committee on Small Business and Entrepreneurship.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 12 March 2012 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 12 March 2012

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 12 March 2012

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 12 March 2012

  Open at official source

Sponsors

• Rep. Cardin, Benjamin L. [D-MD-3] · D · Sponsor
• Sen. Landrieu, Mary L. [D-LA] · D · Sponsor
• Rep. Snowe, Olympia J. [R-ME-2] · R · Cosponsor
• · sssb00 · Standing

Related records

• related to ← Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012
• related to ← SUCCESS Act of 2012