Veterans Small Business Opportunity and Protection Act of 2015

To amend title 38, United States Code, to enhance treatment of certain small business concerns for purposes of Department of Veterans Affairs contracting goals and preferences, and for other purposes. 1. Short title This Act may be cited as the Veterans Small Business Opportunity and Protection Act of 2015 2. Modification of treatment under contracting goals and preferences of Department of Veterans Affairs for small businesses owned by veterans of small businesses after death of disabled veteran owners (a) In general Section 8127(h) of title 38, United States Code, is amended— (1) in paragraph (3), by striking rated as disability. (2) in paragraph (2), by amending subparagraph (C) to read as follows: (C) The date that— (i) in the case of a surviving spouse of a veteran with a service-connected disability rated as 100 percent disabling or who dies as a result of a service-connected disability, is 10 years after the date of the veteran's death; or (ii) in the case of a surviving spouse of a veteran with a service-connected disability rated as less than 100 percent disabling who does not die as a result of a service-connected disability, is three years after the date of the veteran's death. . (b) Effective date The amendments made by subsection (a) shall take effect on the date that is 180 days after the date of the enactment of this Act and shall apply with respect to contracts awarded on or after such date. 3. Treatment of Businesses After Deaths of Servicemember-Owners for Purposes of Department of Veterans Affairs Contracting Goals and Preferences (a) In general Section 8127 of title 38, United States Code, is amended— (1) by redesignating subsections (i) through (l) as subsections (j) through (m), respectively; and (2) by inserting after subsection (h) the following new subsection (i): (i) Treatment of businesses after death of servicemember-Owner (1) If a member of the Armed Forces owns at least 51 percent of a small business concern and such member is killed in line of duty in the active military, naval, or air service, the surviving spouse or dependent of such member who acquires such ownership rights in such small business concern shall, for the period described in paragraph (2), be treated as if the surviving spouse or dependent were a veteran with a service-connected disability for purposes of determining the status of the small business concern as a small business concern owned and controlled by veterans for purposes of contracting goals and preferences under this section. (2) The period referred to in paragraph (1) is the period beginning on the date on which the member of the Armed Forces dies and ending on the date as follows: (A) In the case of a surviving spouse, the earliest of the following dates: (i) The date on which the surviving spouse remarries. (ii) The date on which the surviving spouse relinquishes an ownership interest in the small business concern and no longer owns at least 51 percent of such small business concern. (iii) The date that is ten years after the date of the member's death. (B) In the case of a dependent who is not a spouse, the earliest of the following dates: (i) The date on which the surviving dependant relinquishes an ownership interest in the small business concern and no longer owns at least 51 percent of such small business concern. (ii) The date that is ten years after the date of the member's death. . (b) Effective date Subsection (i) of section 8127 of title 38, United States Code (as added by subsection (a) of this section), shall take effect on the date of the enactment of this Act, and shall apply with respect to the deaths of members of the Armed Forces occurring on or after such date.

Summary: Veterans Small Business Opportunity and Protection Act of 2015 Treats the surviving spouse of a service-disabled veteran who acquires the ownership interest in a small business of the deceased veteran as such veteran, for purposes of eligibility for the Department of Veterans Affairs' (VA's) service-disabled small business contracting goals and preferences, for a period of: (1) 10 years after the veteran's death, if such veteran was either 100% disabled or died from a service-connected disability; or (2) 3 years after such death, if the veteran was less than 100% disabled and did not die from a service-connected disability. Treats a small business acquired by the surviving spouse or dependent from a member killed during active duty as a small business owned and controlled by a service-disabled veteran, for purposes of VA small business contracting goals and preferences. Continues such treatment for the period beginning on the date of the member's death and ending on the earlier of: (1) the date on which the surviving spouse remarries or relinquishes, or the date on which the surviving dependent relinquishes, such ownership interest; or (2) ten years after the member's death.