S. 2232
Raises limit on small business surety bonds to $18 million
Lets the Small Business Administration guarantee larger bonds, up to $18 million instead of $6.5 million, for small businesses that need them to win contracts.
- Raises the largest bond the agency can guarantee from $6.5 million to $18 million
- Cuts that limit by a third in years when the agency asks Congress for extra money
- Allows up to 2 percent of the program's fund to pay for running the program
- Requires yearly reports on the program and a study of how applicants are approved
Passed the Senate · House's turn