S. 2187 · 112th Congress
A bill to remove the sunset date for amendments to the Small Business Investment Act of 1958, and for other purposes.
- Stage
- In committee
- Sponsor
- Benjamin Cardin
- Introduced
- 2012-03-12
- Latest action
- 2012-03-12 · Introduced in Senate
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.