Expanding the Surety Bond Program Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2232 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 2232

 To expand the surety bond program under the Small Business Investment 
                  Act of 1958, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              July 9, 2025

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

_______________________________________________________________________

                                 A BILL


 
 To expand the surety bond program under the Small Business Investment 
                  Act of 1958, 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 of 2025''.

SEC. 2. EXPANSION OF THE 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 ``$20,000,000''; 
                        and
                            (ii) by striking subparagraph (B) and 
                        inserting the following:
                    ``(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
                    (B) in subsection (e)--
                            (i) in paragraph (1), by striking the comma 
                        at the end and inserting a semicolon;
                            (ii) in paragraph (2), by striking 
                        ``$6,500,000,'' and inserting ``the amount 
                        described in subparagraph (A) or (B) of 
                        subsection (a)(1), as applicable;''; and
                            (iii) in paragraph (3), by striking ``, 
                        or'' and inserting ``; or''; and
            (2) in section 412 (15 U.S.C. 694c)--
                    (A) in subsection (a), in the third sentence, by 
                striking ``, excluding administrative expenses,'';
                    (B) by redesignating subsection (b) as subsection 
                (c); and
                    (C) by inserting after subsection (a) the 
                following:
    ``(b) Not more than 5 percent of the amount in the fund described 
in subsection (a) on the first day of each fiscal year may be obligated 
during that fiscal year to cover costs incurred by the Administration 
in connection with the management and administration of this part, 
including costs related to information technology and systems, 
personnel, outreach activities, and relevant contracts.''.
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