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H.R. 776: Security in Bonding Act of 2014

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H.R. 776: Security in Bonding Act of 2014

113th Congress · introduced 2013-02-15 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 342.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2013-02-15 · official record
  2. Who proposed it: Rep. Hanna, Richard L. [R-NY-22] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Placed on the Union Calendar, Calendar No. 342. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Security in Bonding Act of 2014

Plain summary

Security in Bonding Act of 2014 - Amends the Small Business Investment Act of 1958 with respect to any Small Business Administration (SBA) guarantee or agreement to indemnify a surety under the Small Business Investment Program against loss from a breach of the terms of a bid bond, payment bond, performance bond, or ancillary bonds, by a principal on any total work order or contract amount at the time of bond execution that does not exceed $6.5 million, as adjusted for inflation. Increases from 70% to 90% of the loss incurred and paid by a surety authorized to issue bonds (subject to SBA guarantee) the SBA's maximum obligation to pay the surety under the guarantee or agreement to indemnify.

Congressional Research Service summary (Reported to House amended, Part II), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Security in Bonding Act of 2014

Source: Congressional Research Service summary (Reported to House amended, Part II)

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The strongest published arguments

Arguments for (supporters)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Hanna, Richard L. [R-NY-22] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sam Graves (R-MO), Grace Meng (D-NY)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (4)
Authorization
A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Bond
A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Obligation
A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong113-hr776 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113