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Expanded Support for Small Businesses: Surety Bond Program Boost

This act increases the maximum guarantee amount for small businesses seeking contracts, making it easier for them to secure larger projects. It also introduces new rules for program management funds and enhances transparency through mandatory reports on its operations.
Key points
Increased surety bond guarantee limit for small businesses from $6.5 million to $18 million, enabling them to pursue larger contracts.
Introduction of a temporary reduction mechanism for the guarantee limit if the agency requests supplemental funds, ensuring financial stability.
Limiting administrative expenses of the program to 2% of the fund, promoting more efficient use of resources.
Mandatory regular reporting on the program's status and finances, increasing transparency and public oversight.
article Official text account_balance Process page
Placed on Calendar
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Additional Information
Print number: 119_S_2232
Sponsor: Sen. Markey, Edward J. [D-MA]
Process start date: 2025-07-09
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Expanding the Surety Bond Program Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2232.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-09.

What are the main provisions?

Key points include:

  • Increased surety bond guarantee limit for small businesses from $6.5 million to $18 million, enabling them to pursue larger contracts.
  • Introduction of a temporary reduction mechanism for the guarantee limit if the agency requests supplemental funds, ensuring financial stability.
  • Limiting administrative expenses of the program to 2% of the fund, promoting more efficient use of resources.
  • Mandatory regular reporting on the program's status and finances, increasing transparency and public oversight.
What is the specific legal status?

The current status is Placed on Calendar.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Markey, Edward J. [D-MA].

What is the latest detailed status?

The latest detailed status is: Placed on Senate Legislative Calendar under General Orders. Calendar No. 135.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy