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HR 688 112th Congress House Transportation and Public Works Infrastructure development Intergovernmental relations Minority and disadvantaged businesses Public contracts and procurement Small business State and local government operations Transportation programs funding

Department of Transportation Bonding Assistance Authority Act of 2011

Introduced: February 14, 2011 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 15, 2011
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Feb 15, 2011
Referred to the Subcommittee on Highways and Transit.
Feb 14, 2011
Referred to the House Committee on Transportation and Infrastructure.
Feb 14, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Department of Transportation Bonding Assistance Authority Act of 2011 - Replaces the mandate for the Minority Resource Center to provide bonding assistance to disadvantaged business enterprises.

Authorizes the Secretary of Transportation, acting through the Minority Resource Center, to prescribe, guarantee, and enter into commitments to guarantee a surety against loss resulting from a small business concern's breach of a bond that is required for it to bid on or perform a transportation project contract, pay on the contract, or serve as a prime contractor or subcontractor on such contract.

Authorizes the Secretary to indemnify such a surety up to 90% of any loss sustained by it in avoiding or attempting to avoid a breach of a bond guaranteed under this Act.

Requires the Secretary to establish a program under which not more than five selected states may carry out: (1) the activities of the Secretary with respect to issuing surety guarantees, as well as (2) the activities of sureties to assist eligible small business concerns.

What's happening now February 15, 2011

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

 Committees of jurisdiction 3
 Cosponsors 2
All 2 Democratic 2