Shortly before Congress adopted a measure to help curtail individual surety fraud, an appellate court decision seemed to make it more difficult for contractors who use individual surety bonds on public project bids to compete.
A massive Dept. of Defense authorization bill that, at press time, was awaiting President Obama’s signature includes a provision to eliminate much of the fraud in individual surety bonds.
One of the first priorities of new House and Ways Committee Chairman Kevin Brady (R-Texas) is expected to be a push to extend tax credits that expired at the end of 2014.
When, as expected, President Obama signs into law the National Defense Authorization Act, a new military spending bill, he probably won’t know about Section 874, which upgrades the minimum standards for surety-bond assets.
PennDOT will conduct a four-phase study to identify current flood-prone areas and areas with the potential to flood in the future and recommend ways to mitigate flood damage to transportation assets.
Amendments to the defense authorization approved by Congress tighten the rules governing surety assets in a way that should curtail individual surety fraud.
President Obama’s Nov. 6 announcement that the State Dept. would not allow the Keystone XL pipeline to be built is a blow to contractors and construction unions that had strongly advocated for the project.
South Carolina is taking steps to improve the safety of its regulated dams following the failure of more than 30 structures during October’s massive floods.
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