IIB 
112TH CONGRESS 
2D SESSION 
H. R. 3534 
IN THE SENATE OF THE UNITED STATES 
MAY 16, 2012 
Received; read twice and referred to the Committee on Homeland Security and 
Governmental Affairs 
AN ACT 
To amend title 31, United States Code, to revise require-
ments related to assets pledged by a surety, and for 
other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
VerDate Mar 15 2010 
03:29 May 17, 2012
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3534.RFS
H3534
tjames on DSK6SPTVN1PROD with BILLS
HR 3534 RFS 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Security in Bonding 
Act of 2012’’. 
SEC. 2. SURETY BOND REQUIREMENTS. 
Chapter 93 of subtitle VI of title 31, United States 
Code, is amended— 
(1) by adding at the end the following: 
‘‘§ 9310. Individual sureties 
‘‘If another applicable law or regulation permits the 
acceptance of a bond from a surety that is not subject 
to sections 9305 and 9306 and is based on a pledge of 
assets by the surety, the assets pledged by such surety 
shall— 
‘‘(1) consist of eligible obligations described 
under section 9303(a); and 
‘‘(2) be submitted to the official of the Govern-
ment required to approve or accept the bond, who 
shall deposit the assets with a depository described 
under section 9303(b).’’; and 
(2) in the table of contents for such chapter, by 
adding at the end the following: 
‘‘9310. Individual sureties.’’. 
SEC. 3. GAO STUDY. 
(a) STUDY.—The Comptroller General of the United 
States shall carry out a study on the following: 
VerDate Mar 15 2010 
03:29 May 17, 2012
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3534.RFS
H3534
tjames on DSK6SPTVN1PROD with BILLS
HR 3534 RFS 
(1) All instances during the 10-year period 
prior to the date of the enactment of this Act in 
which a surety bond proposed or issued by a surety 
in connection with a Federal project was— 
(A) rejected by a Federal contracting offi-
cer; or 
(B) accepted by a Federal contracting offi-
cer, but was later found to have been backed by 
insufficient collateral or to be otherwise defi-
cient or with respect to which the surety did not 
perform. 
(2) The consequences to the Federal Govern-
ment, subcontractors, and suppliers of the instances 
described under paragraph (1). 
(3) The percentages of all Federal contracts 
that were awarded to small disadvantaged businesses 
(as defined under section 124.1002(b) of title 13, 
Code of Federal Regulations) and disadvantaged 
business enterprises (as defined under section 26.5 
of title 49, Code of Federal Regulations) as prime 
contractors in the 2-year period prior to and the 2- 
year period following the date of enactment of this 
Act, and an assessment of the impact of this Act 
and the amendments made by this Act upon such 
percentages. 
VerDate Mar 15 2010 
03:29 May 17, 2012
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H3534.RFS
H3534
tjames on DSK6SPTVN1PROD with BILLS
HR 3534 RFS 
(b) REPORT.—Not later than the end of the 3-year 
period beginning on the date of the enactment of this Act, 
the Comptroller General shall issue a report to the Com-
mittee on the Judiciary of the House of Representatives 
and the Committee on Homeland Security and Govern-
ment Affairs of the Senate containing all findings and de-
terminations made in carrying out the study required 
under subsection (a). 
Passed the House of Representatives May 15, 2012. 
Attest: 
KAREN L. HAAS, 
Clerk. 
VerDate Mar 15 2010 
03:29 May 17, 2012
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H3534.RFS
H3534
tjames on DSK6SPTVN1PROD with BILLS