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Department of Veterans Affairs issues proposed rule to move to the Small Business Administration regulations relating to business ownership and control for the purposes of its Veteran-Owned Small Business Verification Program

The Department of Veterans Affairs (VA) is proposing to amend its regulations governing VA's Veteran-Owned Small Business (VOSB) Verification Program. The National Defense Authorization Act for Fiscal Year 2017 (“the NDAA”), Public Law 114-840, placed the responsibility for issuing regulations relating to ownership and control for the verification of VOSBs with the United States Small Business Administration (SBA). This proposed regulation seeks to remove all references to ownership and control in VA’s existing verification regulations and to add and clarify certain terms and references that are currently part of the verification process. The NDAA also provides that in certain circumstances a firm can qualify as VOSB or Service-Disabled Veteran Owned Small Business (SDVOSB) when there is a surviving spouse or an employee stock ownership plan (ESOP).

 

  • The text of this proposed rule and additional information is available here.
     
  • Comments on this rule are due by March 12, 2018 and can be submitted here.|
     
  • The text of a companion rule issued by SBA and additional information is available here.
     
  • Advocacy contact: Major Clark at 202-205-7150.
Date: 
Thursday, February 1, 2018