SURETY BOND REQUIREMENTS AND AMOUNT OF GUARANTEE.

SEC. 874. SURETY BOND REQUIREMENTS AND AMOUNT OF GUARANTEE. (a) Surety Bond Requirements.—Chapter 93 of subtitle VI of title 31, United States Code, is amended— (1) by adding at the end the following: “SEC. 9310. [31 U.S.C. 9310] Individual sureties “If another applicable Federal 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 Government required to approve or accept the bond, who shall deposit the obligations as described under section 9303(b).” ; and (2) [31 U.S.C. 9301] in the table of contents for such chapter, by adding at the end the following: “9310. Individual sureties.” . (b) Amount of Surety Bond Guarantee From Small Business Administration.—Section 411(c)(1) of the Small Business Investment Act of 1958 (15 U.S.C. 694b(c)(1)) is amended by striking “70” and inserting “90”. (c) [15 U.S.C. 694b note] Effective Date.—The amendments made by this section shall take effect 1 year after the date of the enactment of this Act.