arrow_back Back to App

Increased Contracts for Veteran-Owned Businesses: New Public Procurement Opportunities

This act aims to boost the participation of small businesses owned by veterans in Department of Defense contracts. This means more business opportunities for veterans, potentially supporting their reintegration and economic growth. Veteran-owned businesses will have easier access to public procurement, which could lead to new jobs and local community development.
Key points
The Department of Defense will set annual goals for contracts with veteran-owned businesses, including those owned by service-disabled veterans.
Allows for awarding contracts to veteran-owned businesses without competitive bidding under specific conditions and fair pricing.
Establishes contracting preferences, prioritizing service-disabled veteran-owned businesses.
Businesses must be listed in a specific database to qualify for these preferences.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_7401
Sponsor: Rep. Waltz, Michael [R-FL-6]
Process start date: 2024-02-15
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Contract Our Veterans Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7401.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-02-15.

What are the main provisions?

Key points include:

  • The Department of Defense will set annual goals for contracts with veteran-owned businesses, including those owned by service-disabled veterans.
  • Allows for awarding contracts to veteran-owned businesses without competitive bidding under specific conditions and fair pricing.
  • Establishes contracting preferences, prioritizing service-disabled veteran-owned businesses.
  • Businesses must be listed in a specific database to qualify for these preferences.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waltz, Michael [R-FL-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Armed Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Public Investments Economy Benefits