What federal act requires a performance bond for projects valued over $100,000?

The Miller Act is the federal legislation that mandates a performance bond for construction projects exceeding $100,000 that are funded by federal government contracts. The purpose of this act is to protect the interests of the government and the general public by ensuring that contractors fulfill their obligations and complete the project as per the terms of the contract. Performance bonds serve as a security measure that guarantees that the work will be done properly, and if the contractor fails to do so, the bond provides financial recourse to cover the costs of hiring another contractor to complete the project. This safeguard helps maintain the integrity of federal projects and ensures that taxpayers' money is protected.

In the context of this question, other acts mentioned, such as the Hazardous Materials Act, primarily focus on environmental regulations, while the Small Business Act is concerned with promoting the interests of small businesses. The Federal Acquisition Regulation provides a framework for government procurement but does not specifically focus on the requirement for performance bonds like the Miller Act does. Therefore, the Miller Act is clearly the appropriate answer, as it directly addresses the bond requirements for federally funded construction contracts over the specified value.