[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 2206 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 2206

 To increase the guarantee amount under the Surety Bond Program of the 
         Small Business Administration, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 22, 2023

  Mr. Cardin introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
 To increase the guarantee amount under the Surety Bond Program of the 
         Small Business Administration, and for other purposes.

    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 ``Expanding the Surety Bond Program 
Act''.

SEC. 2. EXPANDING SURETY BOND PROGRAM.

    Part B of title IV of the Small Business Investment Act of 1958 (15 
U.S.C. 694a et seq.) is amended--
            (1) in section 411 (15 U.S.C. 694b)--
                    (A) in subsection (a)(1)--
                            (i) in subparagraph (A), by striking 
                        ``$6,500,000'' and inserting ``$10,000,000'';
                            (ii) by amending subparagraph (B) to read 
                        as follows:
            ``(B) The Administrator may guarantee a surety under 
        subparagraph (A) for a total work order or contract in an 
        amount that does not exceed $20,000,000.''; and
                            (iii) in subsection (e)(2), by striking 
                        ``$6,500,000'' and inserting ``the amount 
                        described in subparagraph (A) or (B) of 
                        subsection (a)(1), as applicable''; and
            (2) in section 412(a) (15 U.S.C. 694c(a)), in the third 
        sentence, by striking ``, excluding administrative expenses,''.
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