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, $100,000,000, to remain available until September 30, 2031, for additional capital for the fund established under section 412 of the Small Business Investment Act of 1958 ( 15 U.S.C. 694c ). Part B of title IV of the Small Business Investment Act of 1958 ( 15 U.S.C. 694a et seq. ) is amended— in section 411 ( 15 U.S.C. 694b )— 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 entered into by a Federal agency 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 ( 15 U.S.C. 694c )— in subsection (a), in the third sentence, by striking , excluding administrative expenses, ; by redesignating subsection
(b)as subsection (c); and by inserting after subsection
(a)the following: Not more than 15 percent of the amount that is 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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