H.R.5558 - Veterans Entrepreneurship Promotion Act of 1988100th Congress (1987-1988)
Summary: H.R.5558 — 100th Congress (1987-1988)
Introduced in House (10/20/1988)
Veterans Entrepreneurship Promotion Act of 1988 - Title I: Findings, Purposes, and Definitions - Sets forth congressional findings and purposes with respect to small businesses owned and controlled by veterans. Amends the Small Business Act to add veteran-related definitions used in this Act.
Title II: Procurement Assistance - Amends the Small Business Act to include small business concerns owned and controlled by veterans as a discrete group with respect to which the head of each Federal agency must establish goals for participation in procurement contracts. Requires annual reports to the Congress on the extent of participation by such businesses in agency procurement contracts.
Includes veteran-owned businesses as a targeted group for purposes of Government contracts and subcontracts.
Directs Federal agencies, in their procurement activities, to engage in affirmative action to identify and solicit offers from small businesses owned and controlled by veterans, by socially and economically disadvantaged individuals, and by veterans with service-connected disabilities.
Title III: National Veterans Business Council - Establishes the National Veterans' Business Council to review the status of veteran-owned businesses nationwide and to develop detailed multiyear plans in connection with both private and public sector actions to assist and promote such businesses. Requires annual reporting to both the President and the Congress.
Title IV: Statistical Data - Directs: (1) the Bureau of Labor Statistics to include in its census reports on veterans businesses specified information on sole proprietorships, partnerships, and corporations; (2) the Bureau of the Census to include in its Business Census data the number of corporations that are 51 percent or more owned by veterans; (3) the Small Business Administration's Office of the Chief Counsel for Advocacy to report on the most cost-effective and accurate ways to gather and present the statistics required in these census reports; and (4) Federal agencies to report to the Office of Federal Procurement Policy the number of first-time contract recipients that are small businesses owned and controlled by veterans, by socially and economically disadvantaged individuals, and by veterans with service-connected disabilities.
Requires the President's annual Report on Small Business and Competition to include in separate detail information relevant to small businesses owned and controlled by veterans, by socially and economically disadvantaged individuals, and by veterans with service-connected disabilities.