NASBP Focal Point – April 12, 2023

Federal Report

H.R. 1740—Legislation to require payment/performance security for loans/grants for the Water Infrastructure Finance Innovation Act (WIFIA) was introduced on March 24 by lead sponsor Rep. Mike Boost (R-FL-12). H.R. 1740 is co-sponsored by Reps. Chris Pappas (D-NH-1st), Troy Balderson (R-OH-12) and Stephen Lynch (D-MA-8). H.R. 1740 is similar to legislation that was included in the Infrastructure Investment & Jobs Act, which required payment/performance security for loans/grants in the Transportation Infrastructure Finance Innovation Act (TIFIA) program. H.R. 1740 was an issue fly-in participants raised during their legislative fly-in visits and was included in the fly-in talking points and a one-pager dedicated to WIFIA/H.R. 1740, which attendees were asked to leave behind at the Congressional visits. NASBP will continue to seek to gain additional House co-sponsors to H.R. 1740, while also seeking to secure the introduction of a Senate companion bill.

H.R. 1—To date, House Republicans biggest legislative victory is the passage of H.R. 1, “Lower Energy Costs Act.” H.R. 1 is a top priority for House Republicans in the first session of the the 118th Congress. H.R. 1 increases domestic energy production, reforms the permitting process for all industries; reverses anti-energy policies of the Administration, streamlines energy infrastructure and exports and boosts the production and processing of critical minerals. H.R. 1 passed the House on March 30, 225-204.

Federal Legislative Fly-in—For those who participated in the Fly-in, thank you for participation and your willingness to come to D.C. and advocate on behalf of the surety industry. The final tally of Congressional visits were 88—(46 senate/42 house), which included 24 states and eight meetings with members of Congress.

State Report

UPDATE—CTSB1135 seeks to amend Chapter 846 §§49-41(a), Connecticut’s Little Miller Act, by raising the current bond threshold from $100,000 to $5,000,000 for “construction, alteration or repair of a public building or public work of a municipality, should “such municipality by a vote of its legislative body, waives the inclusion of such provision and was referred to the the Joint Planning and Development Committee where the bill was heard on March 17.  NASBP would like to thank all of our CT members who engaged on this effort and summited opposition statements emphasizing the importance of the surety product. The legislation is unlikely to advance out of Committee.

Advocacy/Comment/Support Letters

In addition to opposition letters/talking points to the Connecticut and the Illinois General Assemblies, NASBP submitted a significant number of comment letters over the past several months such as legislation in Minnesota to address bonding requirements for grain elevators and a letter to the Maryland’s Secretary of Commerce expressing NASBP’s continued support of programs such as Maryland Small Business Development Financing Authority (MSBDFA), which provides opportunities for small and disadvantaged construction businesses. NASBP also signed on to a comment letter from organizations dedicated to transportation construction projects directed to the Federal Highway Administration(FHWA) requesting a 90-day extension of the “Buy America” requirements for manufactured products.

If you are aware of any bills impacting the industry, please reach out to Larry LeClair, NASBP’s Director of Government Relations, and let us know.