PREFERRED SURETY BOND GUARANTEE PROGRAM.

SEC. 206. PREFERRED SURETY BOND GUARANTEE PROGRAM. (a) Admissions of Additional Program Participants.—Section 411(a) (15 U.S.C. 694(a)) is amended by adding a new paragraph (5), as follows: “(5) (A) The AdministrAtion shall promptly act upon an application from a surety to participate in the Preferred Surety Bond Guarantee Program, authorized by paragraph (3), in accordance with criteria and procedures established in regulations pursuant to subsection (d). “(B) The Administration is authorized to reduce the allotment of bond guarantee authority or terminate the participation of a surety in the Preferred Surety Bond Guarantee Program based on the rate of participation of such surety during the 4 most recent fiscal year quarters compared to the median rate of participation by the other sureties in the program.”. 110 STAT. 3009–739 (b) Effective Date.— The amendments made by subsection (a) shall apply with respect to applications received (or pending substantive evaluation) on or after October 1, 1995.