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Bill114th CongressFiled Jul 27, 2015Commerce
S. 1870

VET Act of 2016

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What it doesSummary reported to senate with amendment(s) (Jun 29, 2016)

Veterans Entrepreneurial Transition Act of 2016 or the VET Act of 2016

(Sec. 2) This bill amends the Small Business Act to direct the Small Business Administration (SBA) to carry out a three-year pilot program to assess the feasibility of making grants to up to 250 eligible veterans and retiring or honorably discharged members of the Armed Forces to start or acquire a qualifying business enterprise.

The SBA shall establish a list of qualifying business enterprise categories, which shall include: (1) a small business concern, (2) a franchise business enterprise, and (3) any other appropriate business enterprise category.

The SBA shall ensure grantee geographic diversity.

The SBA may authorize eligible veterans to apply as a group. Such a group shall be treated as a single veteran.

Each grantee shall: (1) complete an SBA-approved entrepreneurship readiness program, and (2) prepare a business plan.

The SBA shall submit a program assessment within two years of the program's commencement.

The Government Accountability Office shall submit a program evaluation within one year of the program's termination.

Nothing in the bill shall be construed to modify any time limitation or period during which an individual is entitled to Post 9/11 or all-volunteer force educational assistance.

What just happenedDec 20, 2016

By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report under authority of the order of the Senate of 12/10/2016. Report No. 114-411.

Who’s behind it

Sen. Moran, Jerry [R-KS](R-KS)Sponsor
3 cosponsors2 D1 R
Read on Congress.gov
3cosponsors1committees8actions2related bills4subjects
  1. Dec 20, 2016Floor

    By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report under authority of the order of the Senate of 12/10/2016. Report No. 114-411.

    Small Business and Entrepreneurship Committee
  2. Dec 20, 2016Committee14900

    By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report under authority of the order of the Senate of 12/10/2016. Report No. 114-411.

    Small Business and Entrepreneurship Committee
  3. Jun 29, 2016Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 542.

  4. Jun 29, 2016Committee

    Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with an amendment in the nature of a substitute. Without written report.

    Small Business and Entrepreneurship Committee
  5. Jun 29, 2016Committee14000

    Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with an amendment in the nature of a substitute. Without written report.

    Small Business and Entrepreneurship Committee
  6. Jul 29, 2015Committee

    Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Small Business and Entrepreneurship Committee
  7. Jul 27, 2015IntroReferral

    Read twice and referred to the Committee on Small Business and Entrepreneurship.

    Small Business and Entrepreneurship Committee
  8. Jul 27, 2015IntroReferral10000

    Introduced in Senate

Reported to Senate with amendment(s)Jun 29, 20161

Veterans Entrepreneurial Transition Act of 2016 or the VET Act of 2016

(Sec. 2) This bill amends the Small Business Act to direct the Small Business Administration (SBA) to carry out a three-year pilot program to assess the feasibility of making grants to up to 250 eligible veterans and retiring or honorably discharged members of the Armed Forces to start or acquire a qualifying business enterprise.

The SBA shall establish a list of qualifying business enterprise categories, which shall include: (1) a small business concern, (2) a franchise business enterprise, and (3) any other appropriate business enterprise category.

The SBA shall ensure grantee geographic diversity.

The SBA may authorize eligible veterans to apply as a group. Such a group shall be treated as a single veteran.

Each grantee shall: (1) complete an SBA-approved entrepreneurship readiness program, and (2) prepare a business plan.

The SBA shall submit a program assessment within two years of the program's commencement.

The Government Accountability Office shall submit a program evaluation within one year of the program's termination.

Nothing in the bill shall be construed to modify any time limitation or period during which an individual is entitled to Post 9/11 or all-volunteer force educational assistance.

Introduced in SenateJul 27, 2015

Veterans Entrepreneurial Transition Act of 2015 or the VET Act of 2015

This bill amends the Small Business Act to direct the Small Business Administration to carry out a pilot program to assess the feasibility and advisability of making grants to eligible veterans to start or acquire a qualifying business enterprise.

VET Act of 2016 — Informed