[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2018 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2018

   To provide additional authority to the Administrator of the Small 
     Business Administration with respect to disaster surety bonds.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 24, 2007

Mr. Jefferson introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
   To provide additional authority to the Administrator of the Small 
     Business Administration with respect to disaster surety bonds.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Disaster Surety Bond Enhancement Act 
of 2007''.

SEC. 2. GUARANTEES FOR PROCUREMENTS RELATED TO MAJOR DISASTERS.

    (a) In General.--Except as provided in subsection (b), and 
notwithstanding any other provision of law, for any procurement related 
to a major disaster (as that term is defined in section 102 of the 
Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 
U.S.C. 5122)), the Administrator of the Small Business Administration 
may, upon such terms and conditions as the Administrator may prescribe, 
guarantee and enter into commitments to guarantee any surety against 
loss resulting from a breach of the terms of a bid bond, payment bond, 
performance bond, or bonds ancillary thereto, by a principal on any 
total work order or contract amount at the time of bond execution that 
does not exceed $5,000,000.
    (b) Increase of Amount.--Upon request of the head of any Federal 
agency other than the Administration involved in reconstruction efforts 
in response to a major disaster, the Administrator may guarantee and 
enter into a commitment to guarantee any security against loss under 
subsection (a) on any total work order or contract amount at the time 
of bond execution that does not exceed $10,000,000.
    (c) Retroactive Application to Hurricanes Katrina, Rita, and Wilma 
of 2005.--This section applies to any major disaster after the date of 
the enactment of this Act and also applies to any major disaster 
relating to Hurricane Katrina, Hurricane Rita, or Hurricane Wilma of 
2005.
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