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.
Status:
Expired
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