To amend title 10, United States Code, to establish a goal for the Department of Defense for participation by certain veteran-owned small businesses in procurement contracts, and for other purposes.
About This Bill
Committee
Latest Action · February 15, 2024
Referred to the House Committee on Armed Services.
The Contract Our Veterans Act of 2024 amends federal law to establish Department of Defense contracting goals aimed at increasing business opportunities for veteran-owned small businesses. The bill requires the Defense Department to set annual participation targets for both non-disabled veteran-owned businesses and service-disabled veteran-owned businesses that match the government-wide goal for service-disabled veteran participation. The legislation allows contracting officers to award contracts to qualified veteran-owned businesses through less competitive procedures or restricted competition when appropriate, provided the contract price is fair and reasonable. Veteran-owned businesses must be registered in a federal database to qualify, and the law establishes a priority system that favors service-disabled veteran businesses first, then other veteran-owned businesses, before considering other small business set-asides. The bill does not specify new funding amounts but directs the Pentagon to implement these contracting preference policies as part of its existing procurement process.
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