legislation: 94-s-3370

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
94-s-3370 94 s 3370 A bill to amend the Small Business Investment Act of 1958 to increase the authorization for the Surety Bond Guarantee Fund. Commerce 1976-05-04 1976-07-20 Referred to House Committee on Small Business. Senate Sen. Proxmire, William [D-WI] WI D P000553 2 (Measure passed Senate, amended) Amends the Small Business Investment Act to increase the authorization for the Surety Bond Guarantee Fund by $31,500,000, (from $56,500,000 to $88,000,000). Revises the definition of the term guarantee to mean that the Small Business Administration will pay to sureties a sum not to exceed 90 percent of any loss incurred by reason of its execution of a bond. Requires that payments made by the Administration after the default or bankruptcy of a surety shall be made directly to the obligee and not to the surety's trustee in bankruptcy. Increases to $25,000 the minimum amount of any contract on a public works building requiring a bond. 2025-01-14T18:20:21Z  

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