NASBP Focal Point -March 5, 2024

Federal Report

NASBP/SFAA Fly-in: This year’s Fly-in attendance surpassed previous years, with 117 attendees, representing 30 states, visiting 110 Congressional offices. Fly-in attendees were also fortunate to meet with 20 members of Congress, which sets another Fly-in record. Attendees were well-armed with information prior to their visits which included talking points and a one-pager seeking additional Congressional support for H.R. 1740/S.2928, legislation to require performance and payment guarantees for loans/grants and P3s utilized through the Water Infrastructure Finance and Innovation Act (WIFIA). NASBP would like to personally thank Fly-in attendees for taking time out of their busy schedules to come to Washington and advocate on behalf of the surety industry. For those of you who were unable to attend this year’s fly-in, please consider attending a future Fly-in. Please see the NASBP/SFAA joint press release for additional information. 

State Report

New: LA HB514(Braud): Amends R.S. 48:252(A)/253(A) by increasing the bond threshold from $50,000 to $100,00 for Louisiana DOT contracts. HB514 was referred to the House Committee on Appropriations.

New: AZ SB1670 (Gowan): Amends Title 41, 2559.01–State Governments (P3 contracts) to permit a state procurement officer to enter into a P3 contract for construction, operation, and maintenance services of state buildings, and infrastructure or improvements to or on state property. As introduced, SB1670 does not include bonding requirements. On 2/14, SB1670 was passed out of the Senate Committee on Government.

New: NM HB211 (Herrera): Amends the Water Project Finance Act to make wastewater projects eligible for funding through the Water Trust Board (“the board”). The bill adopts rules governing terms and conditions of grants or loans recommended for the water project fund. Conditions for loans and grants shall be made only to qualifying entities that:(1) agree to operate and maintain a water project so that it will function properly over the structural and material design life and require the contractor of a construction project to post a performance and payment bond in accordance with the requirements of Section 13-4-18 NMSA 1978 (NM’s LMA). HB211 was signed into law by the governor on 2/28.

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.