Service-Disabled Veteran Opportunities in Small Business Act

Service-Disabled Veteran Opportunities in Small Business Act

This bill requires the Small Business Administration (SBA) to provide employees at any federal agency that has not met the goal of awarding at least 3% of its prime contracts and subcontracts to small businesses owned by service-disabled veterans with training to increase the number of such contracts awarded.

The SBA must report for each fiscal year a list of each agency that did not meet the contracting goal and the number of trainings the SBA provided.

Bill 118 hr 3511, also known as the Service-Disabled Veteran Opportunities in Small Business Act, is a piece of legislation aimed at providing more opportunities for service-disabled veterans to participate in small business contracting. The bill was introduced in the House of Representatives on June 25, 2021, by Representative Mike Bost of Illinois.

The main goal of the bill is to increase the percentage of federal contracts awarded to small businesses owned and controlled by service-disabled veterans. It seeks to achieve this by making changes to the Small Business Act, which currently sets aside a certain percentage of federal contracts for small businesses owned by veterans.

Specifically, the bill would increase the percentage of federal contracts set aside for service-disabled veteran-owned small businesses from 3% to 5%. It would also require federal agencies to develop and implement a comprehensive strategy to increase contracting opportunities for these businesses. Additionally, the bill includes provisions to improve the verification process for service-disabled veteran-owned small businesses, ensuring that only eligible businesses receive the benefits provided by the legislation. It also requires the Small Business Administration to report annually to Congress on the implementation of the bill and its impact on contracting opportunities for service-disabled veterans. Overall, the Service-Disabled Veteran Opportunities in Small Business Act aims to support and empower service-disabled veterans by providing them with more opportunities to participate in federal contracting. It is currently pending consideration in the House Committee on Small Business.