Investing in VETS Act

Bill: 118-hr-5147
Sponsor: full_name: Rep. Kiggans, Jennifer A [R-VA-2]
Introduced: 2023-08-04
Policy area: Commerce
Latest action: action_date: 2023-08-04
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2023-08-04
action_desc: Introduced in House
text: <p><b>Investing in Veteran Entrepreneurial Talents Act or the Investing in VETS Act</b></p> <p>This bill raises from 3% to 5% the federal contracting participation goal for small businesses that are owned and controlled by service-disabled veterans.</p> <p>Only small businesses owned and controlled by service-disabled veterans that have been certified by the Small Business Administration may be included in calculating goals related to small businesses owned and controlled by service-disabled veterans.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 5147 IN THE HOUSE OF REPRESENTATIVES August 4, 2023 Mrs. Kiggans of Virginia (for herself, Mr. Mrvan , Mr. Hunt , Mr. Davis of North Carolina , and Ms. Pettersen ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to increase certain goal for participation in Federal contracts by small business concerns owned and controlled by service-disabled veterans, to exclude such self-certified concerns from governmentwide and Federal agency goals, and for other purposes.

1. Short title This Act may be cited as the Investing in Veteran Entrepreneurial Talents Act or the Investing in VETS Act . 2. Increase in Governmentwide goal for participation in Federal contracts by small business concerns owned and controlled by service-disabled veterans Section 15(g)(1)(A)(ii) of the Small Business Act ( 15 U.S.C. 644(g)(1)(A)(ii) ) is amended by striking 3 percent and inserting 5 percent . 3. Exclusion of self-certified SDVOSBs from Governmentwide and agency goals Section 15(g) of such Act ( 15 U.S.C. 644(g) ) is amended by adding at the end the following new paragraph: (4) Exclusion of self-Certified SDVOSBs from goals Only small business concerns owned and controlled by service-disabled veterans that have been certified under section 36 shall be included in calculating the goals established— (A) under this paragraph (1)(A)(ii); and (B) by the head of a Federal agency for small business concerns owned and controlled by service-disabled veterans under paragraph (2). .