Coalition States Case for Miller Act Bond Threshold Indexing Exemption

Denise Gillin News

From ConcreteProducts.com

The Surety & Fidelity Association of America (SFAA) and National Association of Surety Bond Producers (NASBP) in Washington, D.C. endorse House legislation that will maintain essential payment protections for subcontractors, suppliers, and workers on federal construction contracts of $150,000 or more. Sponsored by Congresspersons Nydia Velasquez (D-N.Y.) and Byron Donalds (R-Fla.), H.R. 2949 exempts the threshold in the Miller Act—a 1935 statute requiring payment and performance bonds on federal work—from arbitrary increases currently required under a broad indexing law.

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