Sec. 100102. Expanding surety bond program
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In addition to amounts otherwise available, there is appropriated to the Small Business Administration for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, to remain available until September 30, 2031— $85,000,000 for additional capital for the fund established under section 412 of the Small Business Investment Act of 1958 ( 15 U.S.C. 694c ); and $15,000,000 for administrative expenses and oversight costs related to carrying out this section, and any amendments made by this section.
Part B of title IV of the Small Business Investment Act of 1958 is amended— in section 411— in subsection (a)(1)— in subparagraph (A), by striking $6,500,000 and inserting $10,000,000 ; and by amending subparagraph
(B)to read as follows: 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 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 in section 412(a) ( 15 U.S.C. 694c(a) ), in the third sentence, by striking , excluding administrative expenses, .
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Sec. 100102
Expanding surety bond program
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