Surety Bond Quarterly - Fall 2014 - 14

feature
advoCaCy
update:
NASBP CONTINUES TO build upon
the momentum achieved during
the NASBP legislative Fly-in where
attendees visited 60 offices representing
19 states, raising awareness
of issues such as H.r. 776, the
Security in Bonding Act of 2013, and
the importance of including bonds in
federal policy and legislation relating
to public-private partnerships (P3s).
Since the June 12 NASBP Fly-in,
NASBP, along with the 13 other
trade and professional organizations
that make up the Construction
Procurement Coalition (CPC), have
been meeting with members of the
U.S. Senate who serve on the Senate
Armed Services, Small Business,
and the Homeland Security and
Governmental Affairs Committees
to educate them on the contracting
reform provisions that were included
in the U.S. House of representatives
version of the 2015 National Defense
Authorization Act (NDAA).
In particular, the 2015 House
NDAA included the two components
of H.r. 776,
the individual
surety provision, as well as the provision
to increase the guarantee from
70 percent to 90 percent in the Small
Business Administration (SBA) Surety
Bond Guarantee Preferred Program.
Senator Ben Cardin (D-MD) recently
filed Senate NDAA amendment 3434
to increase the guarantee in the SBA
Surety Bond Guarantee Program
from 70 percent to 90 percent for
surety companies participating in the
Program. Two other bills supported
by CPC included in the House NDAA
were H.r. 2750, the Design-Build
Efficiency and Jobs Act, and H.r. 2751,
the Commonsense Construction
Contracting Act. H.r. 2750 lessens
the high cost of producing complete
design and engineering technical proposals
on design-build construction
projects, while H.r. 2751 prohibits
use of reverse auction procurement
for design and construction services
on small projects.
The CPC's message during these
Senate visits has been to ask that
these provisions be included in
the Final NDAA Conference report
as deliberated between Senate
and House Defense Authorization
Conferees. once the Conference
report is approved by both legislative
chambers, a bill will be presented to
the President for his signature.
Senate Office Meetings
Thus far, the Construction Procurement Coalition has met
with these 18 Senate offices: Senators Tammy Baldwin (d-WI),
richard Blumenthal (d-CT), roy Blunt (r-MO), Tom Carper
(d-dE), Tom Coburn (r-OK), Ted Cruz (r-TX), Joe donnelly
(d-IN), deb Fischer (r-NE), Mazie hirono (d-hI), James Inhofe
(r-OK), Tim Kaine (d-vA), Angus King (I-ME), Claire McCaskill
(d-MO), Mark Pryor (d-Ar), Marco rubio (r-FL), Tim Scott
(r-SC), Jeff Sessions (r-AL), and Jeanne Shaheen (d-Nh).
14 surety BoNd Quarterly | FAll 2014
NASBP Legislative Fly-in sets stage for
final push to pass individual surety measure
There is precedence for including
contracting reforms in the NDAA. For
example, the 2013 NDAA included
several small business contracting
reforms, which NASBP lobbied
for, such as increasing the contract
size of the SBA's Surety Bond
Guarantee Program from $2 million
to $6.5 million and providing the SBA
Administrator discretion to determine
the Program liabilities to attract more
surety company participation in
the Surety Bond Guarantee Program.
In addition to the three provisions
included in the House NDAA,
the CPC also supports an omnibus
bill that provides a framework for
growth in the construction industry
and for more efficient federal
government procurement through
simple, no-cost-to-the-government
solutions. Among its features, the
omnibus bill calls for the inclusion
of federal Miller Act protections on
P3s and for elimination of periodic
threshold adjustments to the federal
Miller Act every five years.
Based on the Capitol Hill visits
thus far, the message the CPC has
received is that the Senate will not
begin to debate the NDAA until after
the November mid-term elections.
A conference committee to reconcile
the House and Senate versions will
likely convene in December. NASBP
and its coalition partners have made
numerous Hill visits this summer and
fall with the objective of meeting with
all Senate offices that have a vested
interest in the defense spending bill.
To find out how you can help advocate
for the surety industry on the matters
described above and on other matters,
contact the NASBP Government
relations at advocacy@nasbp.org. ●

Surety Bond Quarterly - Fall 2014

Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2014

2014-2015 NASBP Executive Committee
NASBP Upcoming Meetings and Workshops
From the CEO: Successful construction relationships require the right relationship
Practical Insights: What you need to know - bond and lien notice pitfalls
SuretyLearn.org: An invaluable resource
Advocacy update
Nov. 12-3 Conference addresses the twists and turns of best value selection - and other timely topics
Surety Bond Guarantee Program changes for the better
Front Line Underwriting: Choosing a quality construction CPA
Getting in the weeds: Requirements of marijuana surety bonds
Encrypting email
It’s Finally Here: The new revenue recognition standard
CPAs standing in the GAAP
Resource Directory
Index to Advertisers
Surety Bond Quarterly - Fall 2014 - cover1
Surety Bond Quarterly - Fall 2014 - cover2
Surety Bond Quarterly - Fall 2014 - 3
Surety Bond Quarterly - Fall 2014 - 4
Surety Bond Quarterly - Fall 2014 - 5
Surety Bond Quarterly - Fall 2014 - 6
Surety Bond Quarterly - Fall 2014 - NASBP Upcoming Meetings and Workshops
Surety Bond Quarterly - Fall 2014 - From the CEO: Successful construction relationships require the right relationship
Surety Bond Quarterly - Fall 2014 - 9
Surety Bond Quarterly - Fall 2014 - Practical Insights: What you need to know - bond and lien notice pitfalls
Surety Bond Quarterly - Fall 2014 - 11
Surety Bond Quarterly - Fall 2014 - SuretyLearn.org: An invaluable resource
Surety Bond Quarterly - Fall 2014 - 13
Surety Bond Quarterly - Fall 2014 - Advocacy update
Surety Bond Quarterly - Fall 2014 - 15
Surety Bond Quarterly - Fall 2014 - Nov. 12-3 Conference addresses the twists and turns of best value selection - and other timely topics
Surety Bond Quarterly - Fall 2014 - 17
Surety Bond Quarterly - Fall 2014 - Surety Bond Guarantee Program changes for the better
Surety Bond Quarterly - Fall 2014 - 19
Surety Bond Quarterly - Fall 2014 - 20
Surety Bond Quarterly - Fall 2014 - 21
Surety Bond Quarterly - Fall 2014 - Front Line Underwriting: Choosing a quality construction CPA
Surety Bond Quarterly - Fall 2014 - 23
Surety Bond Quarterly - Fall 2014 - 24
Surety Bond Quarterly - Fall 2014 - 25
Surety Bond Quarterly - Fall 2014 - Getting in the weeds: Requirements of marijuana surety bonds
Surety Bond Quarterly - Fall 2014 - 27
Surety Bond Quarterly - Fall 2014 - Encrypting email
Surety Bond Quarterly - Fall 2014 - 29
Surety Bond Quarterly - Fall 2014 - 30
Surety Bond Quarterly - Fall 2014 - 31
Surety Bond Quarterly - Fall 2014 - It’s Finally Here: The new revenue recognition standard
Surety Bond Quarterly - Fall 2014 - 33
Surety Bond Quarterly - Fall 2014 - CPAs standing in the GAAP
Surety Bond Quarterly - Fall 2014 - 35
Surety Bond Quarterly - Fall 2014 - 36
Surety Bond Quarterly - Fall 2014 - 37
Surety Bond Quarterly - Fall 2014 - 38
Surety Bond Quarterly - Fall 2014 - Resource Directory
Surety Bond Quarterly - Fall 2014 - 40
Surety Bond Quarterly - Fall 2014 - 41
Surety Bond Quarterly - Fall 2014 - 42
Surety Bond Quarterly - Fall 2014 - 43
Surety Bond Quarterly - Fall 2014 - 44
Surety Bond Quarterly - Fall 2014 - 45
Surety Bond Quarterly - Fall 2014 - 46
Surety Bond Quarterly - Fall 2014 - 47
Surety Bond Quarterly - Fall 2014 - 48
Surety Bond Quarterly - Fall 2014 - 49
Surety Bond Quarterly - Fall 2014 - 50
Surety Bond Quarterly - Fall 2014 - 51
Surety Bond Quarterly - Fall 2014 - 52
Surety Bond Quarterly - Fall 2014 - 53
Surety Bond Quarterly - Fall 2014 - 54
Surety Bond Quarterly - Fall 2014 - 55
Surety Bond Quarterly - Fall 2014 - 56
Surety Bond Quarterly - Fall 2014 - 57
Surety Bond Quarterly - Fall 2014 - Index to Advertisers
Surety Bond Quarterly - Fall 2014 - cover3
Surety Bond Quarterly - Fall 2014 - cover4
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