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SBA | RIN: 3245-AI06 | Publication ID: Fall 2024 |
Title: Regulatory Reform Initiative: Streamlining and Modernizing the Surety Bond Guarantee Program | |
Abstract:
The Office of Surety Guarantees (OSG) will publish a Notice of Proposed Rulemaking (NPRM) to receive comments from the public and surety industry regarding streamlining and modernizing the Surety Bond Guarantee Program. This proposed rule will reduce the file retainage and form submission burden of participating surety companies, correct conflicting provisions, as well as revise the obsolete preferred surety admissions requirements and the Quarterly Contract Completion Report. |
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Agency: Small Business Administration(SBA) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 13 CFR 115.11 13 CFR 115.30 13 CFR 115.33 13 CFR 115.19 13 CFR 115.60 13 CFR 115.65 13 CFR 115.32 13 CFR 115.22 | |
Legal Authority: 15 U.S.C. 694(b) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: YES | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Jermaine Perry Director, Office of Surety Guarantees Small Business Administration 409 3rd Street SW, Washington, DC 20416 Phone:202 401-8275 Email: jermaine.perry@sba.gov |