NASBP Focal Point – July 29, 2025

Federal Report

Update: On July 16, the Senate Small Business Committee marked up several bills, including S. 2232, introduced by Ranking Member Ed Markey (D-MA) to amend the Small Business Investment Act. As amended, the Committee voted to raise the guarantee contract size for the SBA Bond Guarantee Program from $6.5M to $18M. However, that limit may be reduced by 33% if the SBA notifies Congress that it needs supplemental funding for the revolving fund. Section 2 of the bill amends 15 US 694 (c) to limit use of the revolving fund to not more than 2% to cover administrative expenses incurred by the Program. Finally, the legislation initiates two reporting requirements: 1) an annual report on the status, activity, and financial stability of the Program, and 2) a one-time GAO report assessing application efficiency and to recommend methods to streamline the application process for contractors.

H.R. 4615 (Stauber-R-MN-8) Rep. Pete Stauber has reintroduced, the “Small Business Payment for Performance Act of 2025,” which requires prompt payment to contractors for change orders. Timely payments are vital to maintaining cash flow for subcontractors, ensuring they can meet their financial obligations and maintain stability in their operations, which is a core legislative issue for members of the American Subcontractors Association (ASA). H.R. 4615 has three original co-sponsors which include: Reps. Fitzpatrick (R-PA-1), Norcross (D-NJ-1) and Veasey (D-TX-33). Congressman Stauber’s office issued a press release, which included a supporting statement from NASBP.

The 2026 NASBP and SFAA Joint Legislative Fly-in is set for Feb. 24-25. Once again, there will be no registration fee to attend, making it the perfect opportunity to join your NASBP colleagues in an effort to ensure federal policymakers understand the significant role bonds play to protect taxpayer funds and advance public works infrastructure projects. The Fly-in will kick off on Tuesday, February 24, with an afternoon “Washington Program” and a welcome reception at the host hotel, the Hilton Washington DC Capitol Hill. Wednesday, Feb. 25, will be dedicated to Capitol Hill appointments. NASBP will provide more details about registration, hotel and Capitol Hill appointments in the coming months. Registration will open sometime in the Fall.

State Activity

NASBP will continue to monitor state activity throughout the remainder of the year. As we go to press, there are currently 12 states in session. Please contact NASBP if you are aware of legislation and/or proposed regulations in your state that may impact the surety industry.

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.